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Crum & Forster


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Property360 also interviewed Stephen Way, CEO of HIIG and former CEO of HCC, who commented on pricing:

 

. You can quote me. There’s no hope.

 

Rates aren’t going up. In many cases, they are still going down. They are woefully low at this point, and if the industry didn’t have the reserve releases we’ve been seeing over the last 18 months, we would already be seeing red ink.]As to the market-turn inference, we are not at the end of the soft market. We might see some increase in property rates, but there is no hope of casualty business [hardening]. You can quote me. There’s no hope.

 

Rates aren’t going up. In many cases, they are still going down. They are woefully low at this point, and if the industry didn’t have the reserve releases we’ve been seeing over the last 18 months, we would already be seeing red ink.

 

http://www.propertycasualty360.com/2011/06/17/picky-hiig-seeks-unadvertised-specials

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