NU Online News Service, July 24, 3:01 p.m. EDT
Property and casualty insurers are facing catastrophe losses that are at an historic high, which is impeding profitability and growth, but capital levels remain healthy the Financial Stability Oversight Council says in a new report.
The report says catastrophe losses in 2011 were $33.6 billion, 135 percent higher than in 2010, and exceeded only by the extraordinary losses sustained in 2005.
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Elizabeth Festa
Elizabeth Festa is a longtime business and financial services reporter with a specialty in insurance regulatory and legislative coverage at the federal and state level. She is based in Washington, D.C.
