|[February 28, 2014]
Fitch Publishes Property/Casualty 2013 GAAP Results Dashboard
NEW YORK --(Business Wire)--
Fitch Ratings has published a Dashboard Report that analyzes full-year
2013 GAAP financial results for 43 publicly traded (re)insurers.
The Property/Casualty 2013 GAAP Results Dashboard highlights key 2013
performance drivers. In 2013, higher operating profitability was driven
by improved underwriting results that benefited from lower
catastrophe-related losses and pricing improvements achieved in primary
lines in the last two years. These favorable trends helped offset
modestly lower reserve releases.
Underwriting results and operating profitability for 2013 could
represent peak results for the next few years. Pricing gains have slowed
in primary lines and property reinsurance rates declined at Jan. 1
renewal. An anticipated return to normalized catastrophe activity and
diminishment of reserve releases suggests that 2014 underwriting margins
will more likely decline as well. Profitability will be further
pressured by lower reinvestment rates of insurers' maturing fixed-income
The 'Property/Casualty 2013 GAAP Results Dashboard' is available on
Fitch's website at 'www.fitchratings.com'
or by clicking on the link.
Additional information is available at 'www.fitchratings.com'.
Applicable Criteria and Related Research: Property/Casualty 2013 GAAP
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