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.
2012 results were lackluster for many P/C carriers, in spite of aggregate improvements over 2011, Fitch reports.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.