Personal-auto insurers have continued to implement rate increases to counter weakness in the segment's performance over the last several years, but unusual catastrophe losses and rising claim severity prevented strong improvement in underwriting performance for 2012, says Fitch Ratings.
In a recent analysis, "Personal Auto Underwriting Performance," Fitch says, "While market fundamentals in the personal auto industry improved modestly in 2012, results vary considerably across companies."
A chart outlining 10 auto insurers' combined ratios in 2011 and 2012 shows five carriers reporting improved figures in 2012 while five reporting some deterioration.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
