The property/casualty insurance industry saw an increase in the number of rating downgrades issued by A.M. Best Co. for the second consecutive year, according to the special report, "Rating Downgrades Outpace Upgrades Despite Improved Pricing," released by A.M. Best.
Rating activity for the property/casualty industry resulted in 1,442 rating actions: 69% affirmations, 24% rating changes (positive and negative) and 7% placed under review during the 12-month period ended July 11. Despite the challenging market conditions, the majority of insurers were able to maintain prior rating levels highl...
Comments