CHICAGO--(BUSINESS WIRE)-- Fitch Ratings has issued a sector-specific special report describing the credit factors the agency uses to analyze the U.S. Property/Casualty Insurance sector.

These sector-specific credit factors supplement the global master criteria 'Insurance Rating Methodology', dated Sept. 22, 2011, which details key elements of criteria that influence Fitch's core fundamental credit analysis of insurance companies and groups. This report is available at 'www.fitchratings.com'.

Consistent with the global master insurance rating criteria, companies in the Property/Casualty Insurance sector are evaluated considering various qualitative and quantitative credit factors, including but not limited to: industry profile and operating environment, market position and size/scale, corporate governance, capitalization and leverage, financial performance and earnings, and liquidity.

In its new special report, Fitch has placed the various building blocks used to formulate its ratings within typical ranges to increase the transparency of its analysis. The report includes various median financial ratios by rating category, as well as charts that demonstrate how key qualitative factors can impact a typical rating range.

Ratings in U.S. property/casualty insurance typically range between the 'AAA' through 'BBB' category for insurer financial strength (IFS) ratings and between 'AA' and 'BB' for holding company unsecured senior debt ratings. Key property/casualty industry risk factors include cyclical pricing, intense market competition, pricing and reserving uncertainty, investment risk tied to fixed-income and equity holdings, catastrophe loss exposures, and regulatory issues.

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research:

--Insurance Rating Methodology' (Sept. 22, 2011).

Applicable Criteria and Related Research: Property/Casualty Insurance (U.S.) -- Sector Credit Factors

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=683831

Insurance Rating Methodology

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=651018

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Source: Fitch Ratings