S&P Forecasts Rough Year for Property and Casualty Insurers

Elevated catastrophe losses, unfavorable results in the private passenger auto business, and declining bond yields could crimp underwriting results and reduce overall profitability for property and casualty insurers this year, according to a report released this week by S&P Global Market Intelligence. The outlook anticipates that the 93.9 combined ratio in the workers' compensation line in 2015, which marked the first time the number fell below 100 for workers' comp since 2006, will not be repeated. The workers’ comp combined ratio fell for five consecutive years after ...