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U.S. Personal Lines Insurance 2010 Midyear Outlook: Results Have Improved But Continue To Trail Those Of The Rest Of The Sector Jun 10
Standard & Poors, June 2010
Abstract
The global economic downturn hurt insurers in most sectors and most countries to some extent, and U.S. personal lines property/casualty insurers were no exception. And like other insurers, U.S. personal lines companies have begun to show improved results. What is unusual is that for the second consecutive year, personal lines insurers' underwriting results have trailed those of commercial lines insurers (excluding mortgage and financial guaranty insurers) and the property/casualty sector overall. The successive underwriting losses are somewhat unusual given the historical relationship between personal lines underwriting performance and that of the industry and follows five years of underwriting profitability. As a result, Standard & Poor's Ratings Services is maintaining its negative outlook on the U.S. personal lines property/casualty insurance sector,...
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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