Fitch Ratings News
Personal Auto Results Slow to Recover; GEICO, Progressive to Pass State Farm
With an overall combined ratio in excess of 100 for the first time since 2017, private passenger auto joined homeowners in unprofitable territory last year, prompting carriers to respond with pricing ...
Commercial Auto Recovery Uncertain Beyond 2022
Property/casualty insurers have proven resilient in the last two years amid the considerable challenges of the coronavirus pandemic. One unanticipated outcome in this period is sharp improvement in ...
P/C Insurers Positioned for Underwriting Improvement, But Longer-Term Challenges Await
U.S. property/casualty insurers represent a source of stability amid the recent tumult of socioeconomic disruption from the coronavirus pandemic. The industry strengthened its capital base and ...
Rapid Cyber Premium Growth by Fairfax, Tokio Marine Increased Share of Market
The top cyber insurance carriers in 2021 shifted to include Fairfax Financial Holdings and Tokio Marine U.S. as the marketplace grew 74 percent to over $4.8 billion, according to a report from Fitch ...
S&P Global Heeds Warnings, Withdraws Proposal for Insurer-Rating Changes
After receiving a number of concerned comments, S&P Global Ratings said it is withdrawing a proposal to change the way it assesses risk-based capital adequacy for insurers and reinsurers. For the ...
P/C Industry Profits in Current Cycle Lagging Last Hard Market
U.S. property/casualty insurers have benefited from significant increases in commercial premium rates for nearly three years. However, recent industry statutory underwriting performance improvement ...
Reinsurers’ 2022 Profit Outlook Better Than Primary Insurers: Fitch
The trailing impacts of premium and loss trends on the books of property/casualty reinsurers makes the 2022 outlook for reinsurers rosier than the profit outlook for primary insurers, a Fitch Rating ...
Mitigation Efforts Won’t Stop Cyber Damage and Related Rate Hikes in 2022
As dramatic as escalating ransomware attacks and rapidly climbing cyber insurance rates have been in 2021, both trends will continue to be a nuisance in 2022, according to an expert from Fitch ...