Home | Print Page | Contact Us | Sign In | Join the PIA
Weekly Industry News
Blog Home All Blogs
Search all posts for:   


View all (2731) posts »

P&C Operating Income — Double Digit Down

Posted By Administration, Wednesday, September 7, 2016

Fitch Ratings looked at financial statistics for the first half of 2016 from 44 insurers and reinsurers. The ratings firm said operating income for P&C insurers in North America was cut in half the first half of 2016. Investment income decline and a rise in catastrophe losses are the reason.


Earnings — Fitch spokesman Christopher Grimes said — on average fell 10.8% and ended up at $21.6 billion. Maintaining or improving underwriting performance will be the key to generating adequate returns on capital going forward.”


The combined ratio rose to 95.7 which is about 1.5 points higher than a year ago. Catastrophe losses are the big contributor there. Fitch said it added 5% to the overall combined ratio.


Investment income fell by 6.8% on average — up from last year’s 3.4% — and totaled $21.9 billion. That’s bad news but there is some good news. Fitch said investment games are about the same as 2015 at $2.4 billion.


Source links: Carrier Management, Insurance Journal


Tags:  Insurance Content  Insurance Industry  Insurance News  P&C Operating Income — Double Digit Down  Weekly Industry News 

Share |
Permalink | Comments (0)

A special thank you to our KKlub Members for their support.