Fitch Expects Commercial Lines Performance to Deteriorate

Underwriting performance for commercial lines will likely deteriorate this year after three profitable years, Fitch Ratings said in a press release Tuesday. "Catastrophe losses below historical norms contributed to strong 2015 commercial market results; however, results will likely stumble in 2016 as industry competition heats up and premium rates are declining in a growing number of product segments," stated Fitch Managing Director James Auden. Fitch said renewal rates for most commercial market segments are flat or declining following a hardened market from 2011 to 2014. The...