The property-casualty insurance industry should end 2007 with a fourth year of double-digit returns on statutory capital, but the soft market cycle could lead to a loss by 2009, Fitch Ratings said today.

Commenting on its review and outlook for the U.S. p-c industry for 2007-2008, Fitch Ratings analyst James B. Auden said while the sector produced strong results in 2007, it is questionable whether the industry will continue that strong performance past 2008.

The industry will likely see an underwriting loss in 2009, he said.

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