Aon CEO Says Rates Will Grow Slowly Until Early 2004

Aon CEO Patrick Ryan told a group of journalists that premiums will grow slowly through the end of 2003 and into early 2004, according to Reuters.

Ryan predicted rates would rise over the next five to seven years.
Certain sectors, however, would see steady increases for years to income. Ryan cited professional liability as an example. The slowdown is due to an influx of Bermudian-based reinsuers, Ryan said.