The record catastrophe losses of 2005 did not produce theoverall hard market at renewal season predicted by some analysts, anumber of leading brokers said.

According to statements they have issued, while major pricehikes were achieved for property catastrophe covers, particularlyfor those carriers with big Gulf exposures, pricing in other lineshas remained flat.

Sean Mooney, chief economist for Guy Carpenter Inc., New York,said last year's catastrophes were an earnings, and not a capitalevent.

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