Swiss Re: Hard Market Beyond 05

New York

Management at Swiss Reinsurance Company nixed various “doom and gloom” scenarios for the survival of the high-priced hard market for property-casualty last week, predicting it will be around through 2005 and beyond.

At the companys annual U.S. year-end insurance industry review and outlook conference, Swiss Re executives forecast the markets continuation, pointing to several problems the industry continues to face, including low profitability in recent years, low investment income, loss inflation and deficiencies in loss reserves.

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