NU Online News Service, May 11, 11:45 a.m.EDT--The insurance industry should achieve profitabilitythis year but is expected to slide back in 2006 as prices continueto soften, according to a Conning Research & Consulting Inc.report.
The Hartford, Conn.-based firm, a subsidiary of Swiss Re,released its "Property-Casualty Forecast & Analysis by Line ofInsurance First Quarter 2005," noting that results "are better thanwe had been predicting the previous quarter."
Conning said that the preliminary results for 2004 indicate theindustry earned its first underwriting profit in 25 years.
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