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Commercial property/casualty prices will continue to increase, according to a third-quarter insurer earnings preview issued Wednesday by Keefe Bruyette & Woods Inc.
“We expect pricing pressures will remain modestly upward,” said KBW analysts in the preview, “Better than Feared.” It said U.S. commercial lines appear to be up 6% to 7%.
“In reinsurance, our expectation for Jan. 1 is generally flat, including catastrophe lines, despite what is shaping up to be a cat-free year,” KBW analysts said.
The KBW analysts also said they expect reserve releases to continue to slow.
“A year ago in (third quarter 2011), we saw 5.3% of reserve release benefit, and we expect at least a point of deterioration from that level,” they said.