North American property and casualty insurers were hit hard by catastrophe losses in the first 9 months of 2017, leading to a deterioration in operating results, a new Fitch Ratings special report explains.
Fitch Ratings compiled nine-month GAAP financial results for 52 P&C reinsurers that are publicly traded or report GAAP consolidated results.
The nine-month GAAP financial results for this group show operating return on equity (ROAE) declined to 4.3% compared to 7.1% in the first nine months of 2016. The Fitch report says only seven out of the 52 P&C insurers reported an operating ROAE above 10% through the first three quarters of this year.
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