After enduring the large catastrophe losses, lower investment income and declining reserve margins that defined 2011, the property/casualty insurance industry is poised for growth in 2012, according to a report issued Thursday by New York-based Moody’s Investors Service Inc. The report, “U.S. P&C Insurers’ Earnings Down in 2011, but Pricing Gains Traction,” says that in spite of the challenges, the industry retains strong credit fundamentals.