Although the aggregate operating results for a group of large publicly traded property/casualty insurers improved markedly in 2012 compared to 2011, individual carrier performance remains “below par” for many, according to Fitch Ratings.

On an accident-year basis, excluding the impact of prior-year takedowns, only one-third of the carriers—16 of the 48 analyzed by Fitch—reported an underwriting profit in 2012, Fitch said.

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