The U.S. property-casualty sector's profitability will remain strong and the current market cycle will reach its peak this year despite rising claims trends in liability lines, an industry expert predicted today.
Profitability for the p-c sector would have peaked last year if not for Florida hurricanes, but now "we expect to reach the profitability peak in 2005 assuming average catastrophe losses," said Thomas Holzheu, senior economist for Swiss Re Economic Research & Consulting, North America.
This high point will be attained despite some difficult claims trends in liability lines that remain challenging, Mr. Holzheu said.
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