Given the lingering effects of financial crisis, it may come as no surprise to industry observers that it's been a struggle for insurance companies to scratch their way back to the positive side of the ledger. Reports abounded last week regarding the state of the property/casualty industry: that it faced a slow road to premium recovery, was exposed to underwriting issues thanks to D&O and E&O woes and its capital position was strong despite municipal credit demands, but that was then, and this is now. Today, a new study from Standard & Poor's Ratings Services surfaced, painting a slightly rosier picture; P&C insurers have maintained financial strength despite poor economic conditions.
The property/casualty sector has suffered from sharp declines in asset values resulting from weak investment conditions and other difficulties in the financial markets, but generally to a lesser degree than other sectors, S&P said in its report, "Property/Casualty Insurers Maintain Financial Strength Despite A Weak Economy."
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access