Groundhog Forecast 2003
Monday, February 17th, 2003 Auto Liability Property Workers' CompensationEach year the Insurance Information Institute invites a panel of Wall Street stock analysts and industry professionals to review the prospects for the industry in the current and coming year. The survey reveals that 2002 was another tough year for insurers and that the industry’s underwriting and profit woes, while easing substantially in 2003, are far from over. The survey also reveals a curious split in the analyst community over the pace of growth in the industry in 2003, with some analysts forecasting accelerating growth while others foresee stable or slowing growth. Given the current state of investment markets, the survey results also seem to suggest that the hard market cannot end in 2003, at least if the industry expects to post reasonable rates of return by 2004.
