Commercial insurance price momentum to peak in 2023: Fitch
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According to analysts at U.S.-based Fitch Ratings Inc., after major European commercial insurers reported strong profits in 2021, insurer earnings are likely to reach a high in 2023 and deteriorate thereafter, United Brokers News reported. High underwriting losses, rising natural catastrophe claims and the COVID-19 pandemic have put the sector’s earnings under pressure and led to price increases for 17 consecutive quarters. But price momentum is slowing this year with increasing risks from inflation, cyberattacks and climate change.
