NU Online News Service, Feb. 22, 2:05 p.m. EST

Underwriting profitability should improve for European property and casualty insurers, according to Moody’s Investors Service, but the insurers will have a harder time using reserve releases to smooth results.

In a special comment, Moody’s said European insurers are likely to continue their focus on profitable underwriting and defensive balance sheet management. “This discipline will be needed to support existing rating,” Moody’s said.

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