US property-casualty rating downgrades outnumber upgrades in 2019

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<dateIssued>2020</dateIssued>
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<abstract displayLabel="Abstract">For the first time in five years, ratings downgrades in 2019 ,arginally outnumbered upgrades for the US property/casualty industry due to both a decline in the number of upgrades and inceased downgrade actions. The number of downgrades rose by over 25% from the prior year, owing to a number of factors, including weather-related losses, challenging pricing in competitive lines of business, and a rise in loss cost severity in several lines of business</abstract>
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