The insurance industry performed poorly for the first half of this year, primarily due to an unprecedented level of catastrophes, and while the results may point to premium-price increases, other factors may keep a lid on them.
Fitch Ratings, Alirt Insurance Research and Keefe, Bruyette & Woods released reports noting the first-half struggles for the insurance industry.
Fitch's report on catastrophe losses impacting U.S. P&C insurers says the combined ratio of 48 publicly held insurers and reinsurers deteriorated to 108.5 from 97.2 for the same period last year. The results were blamed on both the level of catastrophe losses and “broadly inadequate pricing.”
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