The nine months of 2022 saw P&C industry net earnings fall 19% compared with the same period the year prior, according to Fitch Ratings, which noted higher investment income was weighed down by bigger underwriting losses and “reduced realized investment gains.” (Credit: zatevakhin/ Adobe Stock) The nine months of 2022 saw P&C industry net earnings fall 19% compared with the same period the year prior, according to Fitch Ratings, which noted higher investment income was weighed down by bigger underwriting losses and “reduced realized investment gains.” (Credit: zatevakhin/ Adobe Stock)

In 2023, pricing increases in personal and commercial lines, higher investment yields and a return to catastrophe-loss levels more in line with historical averages should lead to “stabilizing to modestly better” operating performance for U.S. property & casualty insurers, Fitch Ratings reported.

The agency does anticipate a continuation of inflation and economic volatility to result in higher loss cost uncertainty.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected].  

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