The 2014 outlook for the global P&C industry is stable thanks to expected premium growth from the economic recovery and stable-to-rising penetration rates, says Moody's Investors Service.
Moody's says it expects premiums to grow at low-to-mid-single digits in North America and Europe in 2014, and at high-single digits or double digits in Asia and Latin America.
A key strength for P&C, Moody's notes, is the mandatory nature of major lines, insulating performance from economic-cycle volatility. Man-made and natural catastrophes remain key challenges, along with pricing and reserving long-tail lines.
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