Fueled by worldwide catastrophe losses, the combined ratios (claims + expenses) of US Insurance and reinsurance companies deteriorated 3.4% in 2010 compared to 2009.
Fitch Ratings, in its annual report that compiled the financial results of 49 publicly traded insurance and reinsurance companies in the U.S., said the aggregate combined ratio of the group was 97.7 in 2010, up from 94.3 reported by the group the prior year. Out of this group, 16 reported ratios above 100% in 2010 compared with only 4 in 2009.
NU Online News Service posted a story that summarizes the Fitch annual report on March 17, 2011. Read more….