Wednesday, June 11, 2008

Fitch: P/C Insurers to See Underwriting Losses

A just released Fitch Ratings report says U.S. property/casualty insurers will witness underwriting losses as a result of softening market conditions this year.

Fitch also forecasts an average combined ratio of 100.4 percent, showing that P/C insurers will pay out more on claims and underwriting expenses than they receive in premiums.

Fitch expects P/C insurers to see a return on surplus in 2008 of 7.6 percent, a decline from 12.3 percent a year ago.

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