The property-casualty insurance industry is well-positioned against a likely U.S. economic downturn and can expect more profits in 2008, according to a financial services firm's latest analysis.
Keefe, Bruyette & Woods said reserve releases, stable loss trends, strong cash flow and investment income growth, along with attractive absolute pricing levels should lead to double-digit returns.
The firm said that benign weather, attractive pricing and favorable loss trends have allowed the p-c industry to post two years of record-setting underwriting profitability and “looks positioned for another good year.”
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