By flying under the radar to take business that's not in full view of large standard carriers, executives of specialty lines insurance companies predict they'll continue to grow profits in 2007.
While admitting that they don't expect to grow their top lines by leaps and bounds this year, publicly traded companies that reported to Wall Street analysts this month described an array of strategies they say will carry them through a softening market.
Some said they simply won't grow premiums very much at all as they strive to exercise underwriting discipline and maintain profit margins. But many said they planned to put just a little more heft into this year's premium figures--articulating strategies that include developing new products, cross-selling across existing product segments, retaining more business rather than passing it to reinsurers, and outright acquisition of books and teams of specialty underwriters.
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