NU Online News Service, March 15, 11:09 a.m.EDT

Until another significant event occurs to take a large bite outof industry capital or underwriting capacity, a true hard marketwill remain elusive, says Fitch Ratings.

In a report on property and casualty insurers' year-endfinancial results, Fitch says it believes a “meaningful removal” ofcapital is needed “before insurance pricing can move to levelscorresponding with the strong accident-year returns in the middleof the last decade.”

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