Fitch Ratings News

Fitch: Workers’ Comp Profits Remain Strong, Weaker Pricing Ahead

The U.S. workers’ compensation insurance market reported strong underwriting performance for the third consecutive year in 2017, with an industry statutory combined ratio of approximately 92 percent, according to Fitch Ratings. However, a steady decline in premium rates from increased …

Fitch: U.S. P/C Personal Lines Results Decline Despite Auto Improvement

Underwriting losses in the U.S. P/C personal lines segment moved higher for the fourth straight year in 2017, though this time another segment drove the increase, according to Fitch Ratings in a new report. Personal lines are the largest major …

Fitch: Experts Forecast a Near Normal Hurricane Season for 2018

After enduring one of the more active hurricane seasons in recent memory, U.S. P/C insurers are well positioned for what is pointing to an average hurricane season in 2018, according to Fitch Ratings in its annual hurricane season preview report. …

Fitch: P/C Carriers Face First Underwriting Loss in 6 Years

Property and casualty (re)insurers (P&C) endured a trying 2017 with a compilation of latest financial results for a group of public companies showing an aggregate underwriting loss for the first time since 2011, according to Fitch Ratings in a new …

D&O Litigation Trends to Watch in 2017

According to a Fitch Ratings report issued last year, the directors & officers (D&O) market “has great notoriety relative to its size.” Representing a small segment of the property/casualty market, D&O coverage equals about one percent of total industry direct …

Uptick in Auto Claims Severity Due in Part to Distracted Drivers

Earlier this year, Fitch Ratings reported that the commercial auto insurance market suffered its fifth consecutive year of underwriting losses in 2015. The commercial auto combined ratio averaged 106 percent from 2011-2015, Fitch reported. According to James Auden, managing director …

Fitch: Excess/Surplus Insurance Lines Expected to Outperform Standard Market

Excess and surplus (E&S) underwriters will likely outperform standard market underwriters in 2017 even if underwriting profitability weakens in 2017, according to Fitch Ratings’ latest U.S. Excess and Surplus Lines Market Review report. E&S underwriters outperformed the property/casualty (P/C) industry’s …

Fitch: Homeowners’ Insurance Profits Surge While Personal Auto Stalls

The personal auto insurance industry experienced significant performance deterioration in 2015, and is not showing clear signs of recovery thus far in 2016, according to a new Personal Lines Market Update report from Fitch Ratings. In contrast, homeowners insurance experienced …

Fitch: U.S. Insurers Writing Cyber Coverage Totaling $1B in Premiums

About 120 U.S. insurance groups reported writing cyber coverage in 2015 totaling approximately $1 billion in direct written premiums volume, according to Fitch. Fitch aggregated the cybersecurity statutory supplement data for the U.S. property/casualty (P/C) insurance industry and analyzes the …

Fitch: P/C Insurers’ Operating Profitability Declined First Half of 2016

North American property/casualty insurers’ operating earnings decreased in the first half of 2016, as results were challenged by modest underwriting deterioration and low investment yields, according to a new report by Fitch Ratings. For a group of 44 (re)insurers, aggregate …