The fact that the property-casualty insurance industry is bouncing back quickly from the third-quarter's hurricanes, doesn't mean that executives are any smarter in terms of the way they've managed exposures, analysts told an insurers meeting.
That assessment was delivered Thursday by Steven Dreyer, managing director of Standard & Poor's and Frank Medici, managing director of Morgan Stanley, during the opening session of the 17th Annual Property-Casualty Insurance Conference in New York.
Overall, the industry held up well, Mr. Dreyer said, noting that given the enormity of the events==amounting to perhaps $80 billion in losses==there were no insolvencies.
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