In spite of the impact of an economic recession and theunraveling of one major competitor, the property-casualty insurancebusiness–and the specialty insurance market, in particular–remainstrong, according a specialty carrier executive.
The overall capital position of the p-c industry has declined 25percent at most, said Jonathan Michael, president and chiefexecutive of Peoria, Ill.-based RLI, giving his own estimate inview of recent analysts' reports of around 20 percent.
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