NU Online News Service, June 19, 3:11 p.m. EDT

Property-casualty insurers' reserve adequacy "deteriorated" in 2008, ending with a 0.4 percent–$2.2 billion–deficiency that will hurt their earnings, an investment firm said.

For this reason, Keefe, Bruyette & Woods said it is only recommending individual insurance stocks with solid balance sheets and experienced management "rather than sectors."

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