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Property/casualty insurer earnings are likely to fall next year, according to an analysis released Monday by Drexel Hamilton L.L.C.
Drexel Hamilton, a Philadelphia-based institutional broker dealer, said the decline likely would be due to an expected return to more normal catastrophe levels and continued low interest rates.
The report noted that catastrophe losses during the first nine months of this year were “very light,” but Super Typhoon Haiyan in the Philippines as well as storms and tornadoes that hit the United States will produce some catastrophe losses for the fourth quarter this year.
The report also cited legislative issues that will affect insurers next year. According to Drexel Hamilton, the federal government's terrorism insurance program, which is slated to be expire at the end of the year, likely will be renewed.
In addition, Drexel Hamilton said it expects “another look” at legislation designed to reform the National Flood Insurance Program to raise property insurance rates to realistic prices for the risk.