Hard Market, Investment Gains Push Up P-C Profits
The 2003 second-quarter earnings season saw many better-than-expected financial results from property-casualty insurance companies, as the continuing hard market and insurers' realized investment gains worked their way through their income statements.
And these rising profit levels will likely maintain their upward trend in the upcoming quarters, according to some industry watchers. But such positive end-results are far from a sure thing, as a number of potential pitfalls still stand in the way of insurers' roads to rebuilding their balance sheets and restoring profitability over the long term.
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