While property and casualty premium gain is expected for 2010, it will likely lag the real gross domestic product growth rate as commercial lines pricing continues to be soft, according to a Conning Research & Consulting analysis.
Conning said it expects premium growth to be stronger in 2011 and 2012, but noted that underwriting results "will likely get worse before they get better."
"Rising losses and related falling returns on capital will be the catalysts to drive insurers to firm premium rates," the Hartford-based firm predicted.
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