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U.S. Property/Casualty Insurers Are In The Doldrums Of A Soft Market Jul 10
Standard & Poors, July 2010
Abstract
U.S. property/casualty insurers are well-positioned to pull through what industry executives agreed is a severe market downturn amid a still-uncertain economic recovery, shaky consumer confidence, and challenging pricing conditions. The executives, who spoke at a June conference sponsored by Standard & Poor's Ratings Services, acknowledged that this soft part of the industry cycle could weigh on their companies' profits in the next few years. Standard & Poor's agrees that excess capacity in the industry, continuing price declines, and reduced investment income will likely combine with economic factors to weaken property/casualty insurers' operating profitability. We also believe that insurers will not have the same level of support from large reserve releases as in prior years. Furthermore, we think prior-year reserve estimates,...
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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