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For Global Insurers, Pandemic Likely to Erase Profits Until 2021 Second Half: Fitch

For Global Insurers Pandemic Likely to Erase Profits Until 2021 Second Half Fitch

While insurance rates have risen for nine consecutive quarters due to large catastrophe losses and accelerating claims inflation, Fitch Ratings expects that technical profits won’t be seen until the second half of 2021 as a result of the effects of the coronavirus pandemic.

Fitch believes that the commercial insurance industry will probably report significant losses in 2020 and H1 2021, postponing a return to technical profitability for most commercial insurers until the second half of 2021.

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