P/C Pricing Growth Fastest Since 1986

The insurance industry is well into a rebound from the terrorist attacks of Sept. 11, 2001, with premiums increasing aggressively for more than a year, according to the Chicago-based Raymond James Financial.

Greg Peters, senior vice president for equity research at the financial services brokerage, told the 7th annual insurance conference of The New York Society of Security Analysts Jan. 27 that the year 2002 saw the fastest rate of growth in pricing since 1986. Non-life pricing, he said, will reportedly rise 11 percent in 2003 and is on track to go up another 6 percent in 2004.

A full report will appear in the Feb. 10 issue of Insurance Journal.