A.M. Best reports on P&C insurance industry

A recent market analysis by A.M. Best shows there is increasing pressure in the property and casualty insurance and reinsurance sector to support rate increases. Collective insured losses from disasters in Japan, New Zealand, Australia and other events have pushed companies to safeguard their capital and push for rate increases. According to Best, some reinsurers may not see profits from underwriting for the better part of a year; caused by significant increases in first quarter combined ratios compared to December last year. Consequently, Best maintained a “stable” rating for the…

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