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P/C Outlook Stable for 2013, Fitch Says

The property/casualty insurance industry maintains a stable outlook for next year as long as it experiences no hefty catastrophe losses or a rise in inflation, as “[t]he market capital position remains strong” and insurers “have sufficient capital to meet significant future adversity,” according to a Fitch report...
December 19, 2012

The property/casualty insurance industry maintains a stable outlook for next year as long as it experiences no hefty catastrophe losses or a rise in inflation, as “[t]he market capital position remains strong” and insurers “have sufficient capital to meet significant future adversity,” according to a Fitch report. P/C insurance rates have been rising, and the “trend is likely to continue at least through late 2013,” the ratings firm said, noting that insurance rates have been on the increase in both commercial and personal lines and the “trend is likely to continue at least through late 2013.” Fitch believes “this is a hardening market, in contrast to a hard market where rates are at a level consistent with returns at or above required rates of return on capital.” –more–

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