As long as carriers continue to practice disciplinedunderwriting, the indicators point to a prolonged soft marketcycle, said a ratings analyst.

“We don't see a strong market hardening for some time,” saidJames B. Auden, senior director of insurance, property-casualty,with Fitch Ratings in Chicago.

He said companies are getting adequate returns on theirunderwriting, and while that continues the market will remain inits current soft cycle.

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