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Fitch Publishes Property/Casualty 2013 GAAP Results DashboardNEW YORK --(Business Wire)-- Fitch Ratings has published a Dashboard Report that analyzes full-year 2013 GAAP financial results for 43 publicly traded (re)insurers. The Property/Casualty 2013 GAAP Results Dashboard highlights key 2013 performance drivers. In 2013, higher operating profitability was driven by improved underwriting results that benefited from lower catastrophe-related losses and pricing improvements achieved in primary lines in the last two years. These favorable trends helped offset modestly lower reserve releases. Underwriting results and operating profitability for 2013 could represent peak results for the next few years. Pricing gains have slowed in primary lines and property reinsurance rates declined at Jan. 1 renewal. An anticipated return to normalized catastrophe activity and diminishment of reserve releases suggests that 2014 underwriting margins will more likely decline as well. Profitability will be further pressured by lower reinvestment rates of insurers' maturing fixed-income investments. The 'Property/Casualty 2013 GAAP Results Dashboard' is available on Fitch's website at 'www.fitchratings.com' or by clicking on the link. Additional information is available at 'www.fitchratings.com'. Applicable Criteria and Related Research: Property/Casualty 2013 GAAP Results Dashboard http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=737655 ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON (News - Alert) THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE. |
