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III Survey: Slower Growth In 03

III Survey: Slower Growth In 03 The majority of stock analysts and industry professionals in a survey panel believes property-casualty insurers will see continued improvement ...

By Michael Ha | Updated on February 04, 2003

III Survey: Slower Growth In 03 The majority of stock analysts and industry professionals in a survey panel believes property-casualty insurers will see continued improvement in their combined ratios this year–even as premium growth starts to cool, the Insurance Information Institute reported.

In its annual “Groundhog Forecast” survey, the New York-based trade group found that the average forecast calls for an increase in net written premiums of 12.2 percent in 2003, resulting chiefly from increased prices and, to a lesser degree, higher demand. The increase is still high by recent historical standards, the Institute stated, but it represents a deceleration from the 14.0 percent average gain estimated for last year.

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