Filed Under:Markets, E&S/Specialty

Fitch: Market Cycle Reaching Peak; P&C 2013 First-Half Profitability Improves

Property and casualty insurers’ and reinsurers’ 2013 first-half profitability grew compared to the same period in 2012, but the current pricing cycle may be reaching its peak, a new report says. 

Fitch Ratings says in its Special Report, “Property/Casualty Insurers’ Midyear 2013 Financial Results,” that its universe of 47 P&C insurers and reinsurers reported an overall net profit of $27.8 billion for 2013’s first half, a 14.9 percent increase over the same period a year ago. The group benefitted from improved underwriting results due mostly to below-average catastrophe losses and growth in earned premiums compared to the first six months of 2012.

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