(wire)
Economy continues to hinder P&C market
Conning Research and Consulting this week released the report, "Property/Casualty Forecast & Analysis By Line of Insurance, Second Quarter 2010."
According to the report, "The consensus forecast is that 2010 will have substantive growth in the real gross domestic products. The latest U.S. government data, however, still have mixed results that do not affirm a solid trend toward economic recovery."
Meanwhile, the soft market continues, with both personal and commercial lines suffering. "The market shows signs of improvement, but prices are still decreasing in most major commercial lines of business," the report states.
Finally, it finds that catastrophe losses have played a large part in driving loss rations and market pricing conditions.
According to the report, "The consensus forecast is that 2010 will have substantive growth in the real gross domestic products. The latest U.S. government data, however, still have mixed results that do not affirm a solid trend toward economic recovery."
Meanwhile, the soft market continues, with both personal and commercial lines suffering. "The market shows signs of improvement, but prices are still decreasing in most major commercial lines of business," the report states.
Finally, it finds that catastrophe losses have played a large part in driving loss rations and market pricing conditions.
