NU Online News Service, Dec.14, 2:12 p.m.EST
Disappointing returns on equity in the coming year may lead theproperty and casualty insurance industry to a quicker return tostiffer pricing, according to Keefe, Bruyette & Woodsanalysts.
The firm said it expects flat p&c stocks in 2010 with riskof weak book value growth and ROE, valuations remaining low, andevery line on the income statement "more likely to disappoint thanpositively surprise. The upside is that perhaps significantdisappointment will lead the industry to the eventual hard marketturn that much quicker."
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