It’s no secret that U.S. property/casualty insurers’ financial portfolio management practices are known to focus on solid, conservative risk management practices.

P&C carriers also are known to hold a high concentration of investments in public entity securities, and recent public concerns over future deterioration in credit fundamentals for this asset class are increasing, notes Fitch Ratings, which issued a report this week on the P&C industry’s municipal bond exposure. According to Fitch it would take a dramatic shift from historical public finance default and recovery trends to effect P&C insurer credit quality.

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