NU Online News Service, May 11, 11:45 a.m. EDT--The insurance industry should achieve profitability this year but is expected to slide back in 2006 as prices continue to soften, according to a Conning Research & Consulting Inc. report.
The Hartford, Conn.-based firm, a subsidiary of Swiss Re, released its "Property-Casualty Forecast & Analysis by Line of Insurance First Quarter 2005," noting that results "are better than we had been predicting the previous quarter."
Conning said that the preliminary results for 2004 indicate the industry earned its first underwriting profit in 25 years.
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