While a continuing weak recovery is expected for G-20 economies, property and casualty insurers are expected to withstand the challenging environment well since their product offerings, particularly in personal lines, are mandatory for buyers, says Moody's Investors Service.
In its latest Global P&C Insurance Outlook, Moody's says, “Our 2013 global outlook for property & casualty insurers is stable, despite the macroeconomic headwinds, because many P&C products are mandatory for buyers, and because certain P&C risks are uncorrelated with economic conditions.”
Those risks not correlated with economic conditions include windstorms, earthquakes and certain torts, the ratings agency says.
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