The property-casualty insurance industry can expect a "modest" underwriting loss this year as soft market pressures deteriorate underwriting profits, according to a rating service analysis.
Fitch Ratings said in a report that it has revised its forecast for this year and predicts that the industry will shift from a profitable combined ratio of 98.1 into the loss column with a 100.4 combined ration.
The poor underwriting results, coupled with a modest decline in investment income, will translate into an estimated return on surplus of 7.6 percent, down from 9.2 percent previously projected, the firm reported.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
