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In spite of the impact of an economic recession and the unraveling of one major competitor, the property-casualty insurance business–and the specialty insurance market, in particular–remain strong, according a specialty carrier executive.

The overall capital position of the p-c industry has declined 25 percent at most, said Jonathan Michael, president and chief executive of Peoria, Ill.-based RLI, giving his own estimate in view of recent analysts’ reports of around 20 percent.

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