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The protection and indemnity insurance market bounced back thisyear, up from negative earnings a year ago, thanks to the improvedinvestment picture, but claims are eating into underwriting earnings.

In a report released by insurance broker Willis Group, "Protectionand Indemnity Market Review 2010/2011," P&I insurancemarket bounced back to a gain of $680 million in 2009-2010 afterrecord losses of $840 million in 2008-2009.

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