The U.S personal lines insurance industry remains financially sound despite significant catastrophe losses last year from high frequency, low-severity events and Superstorm Sandy, Moody's Investors Service says in a new industry outlook report.
One key to this is strong pricing in both the auto and homeowners markets, Moody’s said in two reports issued on the personal lines industry.
The reports said Moody’s stable outlook on the industry reflects the focus by companies on price adequacy given low re-investment rates, along with improvements in underwriting and risk management, and balance sheet strength despite catastrophe losses.
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