Fitch Ratings reports improvements in Property/Casualty insurers’ mid-year 2024 results in North America. The mid-year 2024 GAAP financial results for 41 North American property/casualty (p/c) (re)insurers reveals very strong operating returns across sectors, driven by improved underwriting results and higher investment income, Fitch Ratings says in a new report. Double-digit operating return on common equity […]
Auto Insurer Prospects Improving Amid Price Hikes and Moderating Loss Severity
Fitch Ratings finds improvements vary widely across companies as many still report underwriting losses. The U.S. personal auto insurer segment is seeing larger pricing actions take effect, with moderating claims severity setting the stage for segment improvement in 2024, based on personal auto segment public filings for the first nine months of 2023, Fitch Ratings […]
Fitch Ratings Says US Vehicle Manufacturers Have Enough Liquidity to Withstand Extended UAW Strikes
While the ratings agency believes both manufacturers and the union want to resolve the strike quickly, the gap between compensation offers and union demands will make that difficult. U.S. vehicle manufacturers (OEMs) have sufficient liquidity for their ratings to withstand an extended strike by members of the United Auto Workers (UAW), according to Fitch Ratings. […]
U.S. Auto Insurer Profit Recovery Slow to Materialize
Fitch Ratings says publicly-traded auto insurers continue to report underwriting losses even with higher rates. According to a report by Fitch Ratings, most publicly-traded U.S. personal auto insurers continued to report underwriting losses in the first half of 2023 despite sharper improvement in premium rates. The first half of 2023 was marked by continued unfavorable […]
Fitch Rating See US Auto Outlook Stable in 2018
Projects decline to 16.8 million vehicles next year, down from 17 million this year. Fitch Ratings’ sector outlook for U.S. auto manufacturers and suppliers in 2018 is stable, reflecting a combination of solid credit profiles for most issuers in the industry and Fitch’s expectation for continued modest global sales and production growth. Fitch expects lower […]
Ratings Agency Reports U.S. Property/Casualty Insurers’ Operating Profitability Declined in 2015
U.S. Property/casualty insurers’ operating earnings decreased in 2015, highlighting the competitive operating environment and low investment yields that challenge insurers’ earnings growth potential, according to a new report by Fitch Ratings. Favorable reserve development and limited catastrophic loss activity helped to offset sluggish investment income. Fitch’s universe of 45 (re)insurance organization reported an aggregate a […]