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2009 U.S. Commercial Lines Outlook: Catastrophe And Investment Losses Could Lead To A Less Competitive Market Dec 08 Product Image

2009 U.S. Commercial Lines Outlook: Catastrophe And Investment Losses Could Lead To A Less Competitive Market Dec 08

  • Published: December 2008
  • Region: United States
  • Standard & Poors

Abstract
The U.S. commercial property casualty (p/c) sector might be glad to see 2008 wind down if only the prospects for 2009 were any better. Ongoing price declines for commercial lines, substantial second-half catastrophe losses incurred as a result of such events as hurricanes Gustav and Ike and the wildfires in California, decreased investment income, and very substantial increases in unrealized capital losses added up to make for tough going in 2008. Unfortunately, it doesn't look like things are going to get much better anytime soon. Reflecting our concerns, Standard & Poor's Ratings Services is maintaining its negative outlook for the U.S. commercial lines p/c sector into 2009. Many of these difficult conditions led us to change our sector outlook to...

Companies mentioned in this report are: American International Group Inc.,Cincinnati Financial Corp.,Safeco Corp.,Old Republic International Corp.,Liberty Mutual Insurance Co.,Fireman's Fund Insurance Co.,Munich Reinsurance Co.,ACUITY a Mutual Insurance Co.,Fairfax Financial Holdings Ltd.,QBE Insurance Group Ltd.,Mapfre S.A.,Tokio Marine Holdings Inc.,Liberty Mutual Group Inc.,Praetorian Financial Group Inc.

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American International Group Inc.,Cincinnati Financial Corp.,Safeco Corp.,Old Republic International Corp.,Liberty Mutual Insurance Co.,Fireman's Fund Insurance Co.,Munich Reinsurance Co.,ACUITY a Mutual Insurance Co.,Fairfax Financial Holdings Ltd.,QBE Insurance Group Ltd.,Mapfre S.A.,Tokio Marine Holdings Inc.,Liberty Mutual Group Inc.,Praetorian Financial Group Inc.

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