NU Online News Service, March 15, 11:09 a.m. EDT
Until another significant event occurs to take a large bite out of industry capital or underwriting capacity, a true hard market will remain elusive, says Fitch Ratings.
In a report on property and casualty insurers' year-end financial results, Fitch says it believes a “meaningful removal” of capital is needed “before insurance pricing can move to levels corresponding with the strong accident-year returns in the middle of the last decade.”
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