22.08.2013 20:56:00

Moody's: US P&C insurer earnings boosted by lower cat losses, increased rates

New York, August 22, 2013 -- Moody's-rated US P&C insurance companies delivered strong earnings growth in Q2 2013, with net income increasing 58% over the prior-year quarter, said Moody's Investors Service in its new special comment "US P&C Insurers Generated Strong Earnings in Q2 2013; The Pace of Rate Improvement Slows Slightly in Certain Lines." The improvement was driven primarily by lower catastrophe losses with scattered storm and hail activity in the Midwest and South as well as flooding in Canada and Europe.

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