January 9, 2012- Today, A.M. Best Co. released its general outlook for 2012 U.S. property/casualty ratings. The good news was company balance sheets are still strong but, as everyone has learned over the last four years, at risk to sudden weakening based upon some unexpected financial tsunami.
Auto Insurance leads the way in personal lines.
Best found that the personal lines carriers are continuing to benefit from solid performance in auto insurance while homeowners has put a “drag on overall results” for personal lines.
One minute personal lines summary by Best’s vice president, Richard Attanasio, on the 2012 personal lines outlook.
Commercial lines still struggling for pricing
Commercial lines carriers’ balance sheets also remain strong but the rating agency expects continued price weakness and reserve strengthening. So despite the economy’s slightly better performance of late, it is maintaining the negative outlook for commercial lines for 2012.
One minute summary by AM. Best’s vice president, Andrew Colannino. on 2012’s negative outlook
