Early reporting P&C (re)insurers showed minimal damage in their Q2 combined ratios, despite the enervating effect of a soft market continuing to crawl along the trough of the cycle.
Operating profits have fallen off for some - particularly where investment income has been hit by sluggish financial markets.
Conversely, economic recovery has helped maintain and in some cases spur premium volumes, as insureds' exposures begin to climb.
But margins are being tightly squeezed, as competition continues to drive price falls...
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