Conning: another P/G profit predicted in '05.
Conning Research and Consulting Inc. is predicting another year of
underwriting profits in 2005, but expects a downturn in 2006, according
to a study released by the firm.
"Higher prices, tighter covers and more effective deductibles
are the key contributors to industry performance in the 2004-2005
period," Stephan Christiansen, director of research at Conning,
said in a statement. "Despite a softening market, we fully expect
that the underwriting profits of 2004 will continue at least into
2005."
The property/casualty industry posted its first underwriting profit
in 26 years in 2004.
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