Based on sustained pricing increases and a normal level of catastrophe losses, the P&C industry, as a whole, is experiencing a return to profitability, strong net-premium growth and a substantially improved combined ratio for 2013, according Conning’s “Property-Casualty Forecast & Analysis by Line of Insurance.” The quarterly forecast and report is developed by Conning using a proprietary property/casualty industry model and analysis of key industry drivers and data.
“Stronger preliminary results for 2012 despite Superstorm Sandy—a 6-percent return on equity and a 103-percent combined ratio—reinforce that the effect of price increases and improved underwriting are taking hold throughout the industry, ” said Steven Webersen, managing director at Conning. “Conning’s 2013 property/casualty forecast is for net premium growth to accelerate at a 4.6-percent rate over prior year based on continued rate increases.”
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