Property-Casualty insurer expense analysis

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      <subfield code="a">Expense management has taken on greater importance for insurers as economic conditions and shrinking premium bases challenge top line growth.  This has fostered a steady increase in the underwriting expense ratio to 28% for full-year 2009, compared with a hard market low of 25% in 2003. This report examines changes in industry underwriting expenses for property/casualty insurers over time and expense differences by business segment. The analysis also compares expense ratio differences for major industry participants</subfield>
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