Moody's Says P&C Will Continue to Deteriorate

Moody's Investors Service investigates whether or not the credit quality of the US property & casualty insurance industry is bottoming out in the most recent update to its Top Ten Ratio study. Based on the most recent data, Moody's ratio analysis of rated P&C insurance companies' year-end 2001 financial statements continues to uncover signs of deterioration, the rating agency says. Moody's believes that while 2001's sizable catastrophe losses contributed significantly to most insurers' results, the latter stages of the soft market continued to impact insurers' credit profiles and ratings. "R...