NU Online News Service, Aug. 31, 1:52 p.m. EDT
Earnings for U.S. property and casualty insurers were down on catastrophe losses in the 2010 second quarter, but their capital positions remained solid, according to a report issued by Moody's Investors Service.
In a special report titled "U.S. P&C Insurers' 2Q10 Earnings Down on Catastrophe Losses; Capital Still Solid," Moody's said the results were not surprising.
"The results were generally consistent with expectations, as underwriting margins continued to be pressured by the competitive commercial p&c market and a slow economy," said Moody's analyst Ben Goldberg in a statement.
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