Conning: another P/G profit predicted in '05.Conning Research and Consulting Inc. is predicting another year of underwriting profits Underwriting profit is a term used in the insurance industry. It consists of the earned premium remaining after losses have been paid and administrative expenses have been deducted. It does not include any investment income earned on held premiums. in 2005, but expects a downturn Downturn The transition point between a rising, expanding economy to a falling, contracting one. downturn A decline in security prices or economic activity following a period of rising or stable prices or activity. in 2006, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. 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 softening /sof·ten·ing/ (sof´en-ing) malacia. softening a change of consistency, with loss of firmness or hardness. 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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