A.M. Best does not expect a turn in the property and casualty market in the near term though the rating agency points to several possible obstacles.

In a 32-page special report titled “U.S. P/C Industry's Profits Persist; Mounting Challenges Loom Closer,” A.M. Best analysts pointed to higher loss costs, expense pressures, pricing trends, competition and the regulatory environment as challenges for the p&c industry.

However, capitalization among p&c insurers is expected to remain strong and operating performance is expected to remain adequate and in line with past years, A.M. Best said.

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