The insurance market underwriting cycle
is turning unfavorable in many United States commercial market segments, including directors and officers (D&O) liability insurance, New York City-based Fitch Ratings says.
FSRs summarize Demotech's opinion of the financial stability of an insurer regardless of general economic conditions or the phase of the underwriting cycle
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The results of the second-order autoregressive model largely support the existence of the underwriting cycle
in Asia because underwriting cycles
are found in at least one line of all five Asian countries tested.
Lighter utilization of medical services, including a less severe flu season earlier this year compared with 2009, and an upturn in the industry underwriting cycle
are believed to be helping managed-care companies' results this year.
The overall industry's conservative operating strategy and effective capital management leave it sufficiently capitalized to navigate the underwriting cycle
and volatility in the financial markets, but challenges remain.
The non-life insurance underwriting cycle
continues to negatively impact the industry's long-term financial results.
Number four is a common threat: mismanaging the non-life underwriting cycle
, which is listed as "arguably the number one cause of insolvency in the non-life" market.
Admiral's unique profits model limits shareholders' exposure to the underwriting cycle
, while securing substantial additional income via profit commissions and ancillary income.
Shocks do not contribute to the underwriting cycle
because they are random and, hence, taken as not being truly representative of the future of "business as usual.
The underwriting cycle
appears to be a recent phenomenon.
As the underwriting cycle
has turned down, the market has also seen declining profits.