The property-casualty insurance industry is well-positionedagainst a likely U.S. economic downturn and can expect more profitsin 2008, according to a financial services firm's latestanalysis.

Keefe, Bruyette & Woods said reserve releases, stable losstrends, strong cash flow and investment income growth, along withattractive absolute pricing levels should lead to double-digitreturns.

The firm said that benign weather, attractive pricing andfavorable loss trends have allowed the p-c industry to post twoyears of record-setting underwriting profitability and “lookspositioned for another good year.”

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