While many recent reports correctly point to lower catastrophe activity as a primary reason behind insurers' improved 2012 Q2 results, the period still beat the 10-year average for cat losses, a Moody's report says.
In a Special Comment on Q2 results, Moody's Investors Service says insurers have seen strong earnings growth through the first half of the year, driven by lower catastrophe losses and increased premium growth.
The ratings agency says Q2 net income was “up substantially” over last year, rising 343 percent for a group of 26 property and casualty companies Moody's follows.
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