A.M. Best Co. said despite the growing economic storm clouds, it is maintaining its stable outlook for the personal lines segment for property-casualty insurers for 2008.
Richard Attanasio, an analyst for the Oldwick, N.J.-based rating firm, said he is basing his outlook on continued operating profitability for personal lines carriers, as well as their strong balance sheets and anticipation of ongoing underwriting discipline.
Events that could potentially hurt the sector include the possibility of irrational market-based pricing decisions, catastrophes and regulatory mandates, Mr. Attanasio said in the report written with Anthony Diodato and Rachelle Morrow.
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