Earnings Outlook Positive; 'No Major Increase' In Rates
With the past year's premium rate hikes now being fully factored into the earnings picture, many insurers are expected to see good results in the second quarter and the latter half of 2003. And the long-awaited upturn for stock markets is also lifting the industry, especially for the hard-bitten insurers and reinsurers in Europe, according to some insurance analysts on Wall Street.
Additionally, the New York-based investment bank Morgan Stanley argued that the pricing has "peaked in most lines," and that some areas, namely property, are even seeing declining rates.
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