Hardening market boosts insurer and broker profits.
Rate rises are set to continue and are already having a positive effect on companies' balance sheets...
Rate rises are set to continue and are already having a positiveeffect on companies' balance sheets. CGNU, Royal & SunAlliance and Jardine
Lloyd Thompson have all reported increased profits boosted by the
hardening market.
Broker JLT said rates would continue rising for longer than it had
initially forecast due to the impact of the demise of Independent
Insurance and HIH, the Australian insurer. JLT predicted the current hard
market would remain in place until 2003.
Rate rises are being witnessed
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