NU Online News Service, April 16, 12:00 p.m. EST

Due to low catastrophe activity Keefe, Bruyette and Woods expects good first-quarter earnings for the property and casualty insurance industry.

In an earnings preview, the global investment bank says "the financial impact of catastrophes appears to have been relatively mild" in the first quarter. Plus, many companies balanced reserves during the 2011 fourth quarter for catastrophes last year, so the firm expects "little noise from prior events."

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