Moody's Investors Service says the U.S. property and casualty personal-lines sector remains stable despite expected Hurricane Sandy losses.
- SANDY NEWS: Nov. 16, 2012 NCUA, FDIC Issue Guidance
"We expect that losses from Hurricane Sandy will not jeopardize capital for major property and casualty insurers, although it will weaken 2012 earnings," says Enrico Leo, Moody's assistant vice president and author of the report, "U.S. Personal Lines Industry Outlook Remains Stable."
The personal lines insurance sector credit profile will be driven by insurers' focus on price adequacy in light of rising loss-cost trends, Moody's says.
Automobile rate increases are expected to outpace higher liability loss-cost trends and help offset low re-investment rates, alleviating operating-margin pressure.
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