Property/casualty insurers' operating profits improved in 2012, driven by reduced incurred losses from natural catastrophes and core loss ratio improvements from recent underwriting and pricing actions.

According to a new release from Fitch Ratings, the firm’s compilation of full-year GAAP 2012 financial results for a group of 48 publicly traded reinsurers reveals a 75-percent improvement in operating earnings and operating return on equity of 7.3 percent versus 4.4 percent in 2011.

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