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Insurer CEOs predict slow economic recovery, lingering soft market

Although the CEOs of four global insurers are seeing some green shoots of economic improvement, they predict a long, slow recovery and a soft insurance market cycle that could extend well into the decade.

By Laura Mazzuca Toops, Broker Editor | Updated on March 09, 2010

Although the CEOs of four global insurers are seeing some green shoots of economic improvement in areas like new housing starts, discretionary spending and the gross domestic product growth, they predict a long, slow recovery and a soft insurance market cycle that could extend well into the decade.

The executives–Michael Hughes, president, Safeco; Tom Motamed, chairman and CEO, CNA; Michael LaRocco, president and CEO, Fireman’s Fund; and Liam McGee, chairman and CEO, The Hartford– addressed wide-ranging topics, including the economy, talent recruitment and the soft market, in a panel discussion at last week’s Big “I” legislative conference and convention in Washington, D.C. Big “I” President and CEO Bob Rusbuldt led the discussion.

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