A dozen Wall Street analysts are predicting an average combined ratio of 98 for 2006 for the property-casualty insurance industry, but it could be even better, according to the developer of the annual "Early Bird" survey.
On the other hand, early predictions of a hardening market in 2006, with overall premium growth of 4.7 percent, will likely be tempered, Robert Hartwig, senior vice president and chief economist at the Insurance Information Institute, told National Underwriter.
Explaining why the "Early Bird Forecast" of a combined ratio two points better than break-even for 2006 just published by the Institute is already ripe for revision, Mr. Hartwig said analysts were surveyed in mid-December, before nine-month results for 2005 were released by the Insurance Services Office and the Property Casualty Insurers Association of America.
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