Moody's Investors Service says the U.S. property and casualty personal-lines sector remains stable despite expected Superstorm Sandy losses.
"We expect that losses from Hurricane Sandy will not jeopardize capital for major property and casualty insurers, although it will weaken 2012 earnings," says Enrico Leo, Moody's assistant vice president and author of the report, "U.S. Personal Lines Industry Outlook Remains Stable."
The personal lines insurance sector credit profile will be driven by insurers' focus on price adequacy in light of rising loss-cost trends, Moody's says.
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