Moody's Investors Service said the outlook for Australia's property-casualty insurance industry is stable.
"The industry has registered a good underwriting performance in the last few years, largely due to its sound claims experience, driven in turn by relatively benign weather, the absence of major catastrophes, the effects of early tort reforms, and greater pricing discipline among insurers," Moody's said in its report.
The report was jointly written by Jeffrey Liew, a vice president-senior analyst, and Siew Wai Wan, an associate analyst in the rating agency's Hong Kong office.
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