Improved pricing conditions in the wake of record second-half catastrophe losses have prompted equity analysts to take a more optimistic view of the property-casualty sector.
P-C analysts Jay Gelb of Lehman Brothers and Brian Meredith of Bank of America have raised their outlooks for the industry this week.
Last week, the Insurance Services Office said that insurers paid a record $40.8 billion in the third quarter to homeowners and businesses for insured property losses in 14 states, making 2005 the costliest year for catastrophe damage in history.
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