US P&C sector to see continuation of rate increases into 2020, says S&P

Social inflation, rather than replenishment of capital, is driving the hardening pricing cycle in the US P&C insurance sector, according to Standard & Poor’s Global Ratings (S&P). It adds that capital for the sector keeps reaching record heights partly because of asset appreciation and dwindling share buyback activity. In a new report on the sector, S&P says: “Budding concerns about…

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