French insurers see 3% growth in operating profits: Fitch

According to analysts by U.S.-based Fitch Ratings Inc., French insurers’ operating profits grew by around 3% in 2022, despite flat premium income, Reinsurance News reported. The property and casualty combined ratio weakened for the majority of insurers due to claims inflation exceeding price hikes and more natural catastrophes and adverse weather. This deterioration was slightly offset by favorable reserve development for earlier years.