Managing general agents feel program business will continue to move in a positive direction, with growth likely despite declining rates in the overall softening property-casualty market, a survey by a major reinsurance brokerage found.
The survey report–"New Opportunity and Old Challenges Converge"–was released last week by reinsurance broker Guy Carpenter, a unit of New York-based Marsh & McLennan Companies, here at the American Association of Managing General Agents annual meeting.
Program business continues to have good results, with combined ratios of 95, noted Carl A. Bach, Guy Carpenter managing director and practice leader.
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