NU Online News Service, Aug. 13, 1:56 p.m. EDT
Despite rising rates and second-quarter performance that met or beat estimates for most insurers, the outlook for the industry is considered “challenging,” according to one analyst firm, as loss trends are picking up in personal lines and investment income is worsening across the industry.
Second-quarter earnings for P&C companies were “OK,” firm Keefe, Bruyette & Woods says in its latest analysis. “In our universe of 48 companies, 32 met or beat EPS [earnings per share] estimates,” says KBW. But the firm adds that many companies had pre-announced catastrophe losses, which caused a reduction in EPS expectations.
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