No matter how you look at it, sellers appear to be locked into a persistently soft commercial lines insurance market, and it's likely to remain that way for quite some time–perhaps the next three years, the latest pricing surveys have indicated.
Indeed, premium rates may remain relatively soft for commercial lines into 2013, Morgan Stanley predicts.
One big factor is that property and casualty insurers had more than $19 billion of reserve redundancy at the end of 2009–a majority of which will be released this year and next, noted a report from Morgan Stanley Investment Research.
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