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The Data Suggest That U.S. Property/Casualty Market Conditions Should Stay Tough Until At Least 2011 Feb 11
Standard & Poors, Feb 2011
Abstract
Since 2008, the primary U.S. property/casualty market has been softening-transitioning into a sustained competitive period of price cutting that is reducing profits and could lead to reserve charges. Although commercial lines and personal lines insurers have a number of common opportunities and concerns, there is a key differentiator between the two sectors: Whereas pricing for commercial lines has continued to decline, though at a slower pace in the last two years, rates in the personal lines sector have been improving since early 2008. It looks to us like the combination of price cuts for commercial lines and price increases for personal lines will contribute to an overall softer market At year-end 2009, surplus for the industry meaningfully rebounded. As a...
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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