Fitch's overall rating outlook for the U.S. property/casualty sector remains stable. Insurance premium rates have significantly improved across most product segments since the second half of 2011. As the industry is still generating a significant underwriting loss, prices are continuing to rise and appear sustainable at least through the latter portion of 2013, the rating agency said.
Fitch anticipates premium growth to remain favorable in the near term and forecasts a calendar year combined ratio of 99.5 percent. This would represent only the fourth year in the last 35 in which the market has achieved an underwriting profit.
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