The better a property-casualty company's financial strengthrating, the more it will benefit from the favorable operatingconditions of 2005, according to a new study from Moody's InvestorsServices.
The favorable pricing of 2003 and 2004, along with a focus onunderwriting discipline, has contributed to a significant reboundin profits and replenishment of capital strength, the reportsaid.
Some commercial lines companies, however, were negativelyimpacted by adverse reserve development, either from businesswritten during the soft market or from asbestos liabilities.
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