Hard Market, Investment Gains Push Up P-CProfits

The 2003 second-quarter earnings season saw manybetter-than-expected financial results from property-casualtyinsurance companies, as the continuing hard market and insurers'realized investment gains worked their way through their incomestatements.

And these rising profit levels will likely maintain their upwardtrend in the upcoming quarters, according to some industrywatchers. But such positive end-results are far from a sure thing,as a number of potential pitfalls still stand in the way ofinsurers' roads to rebuilding their balance sheets and restoringprofitability over the long term.

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