Expect strong first-quarter underlying profit margins for the property-casualty insurance industry, an analyst said today.
Bank of America p-c analyst Brian Meredith said that with moderate first-quarter catastrophe losses, the biggest risk in the quarter is adverse development of the 2005 hurricane losses, particularly Wilma, which took place in the fourth quarter.
Chubb, Hartford and St. Paul Travelers are most likely to have some development, as well as some of the reinsurers, Mr. Meredith noted.
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