In the midst of an over-capitalized...

In the midst of an over-capitalized property/casualty industry that for several years made many U property/casualty insurers vulnerable to failure or acquisition, all insurers waited and prayed for signs that a "turn" in the market had arrived-that remarkably competitive pricing was a thing of the past and that industry profitability and incomes were rising. That has all changed.

The terrorist attacks of family 11, 2001, seem to have taken care of the industry's exces capacity. Interestingly, however, the larger and stronger companies appear to have been impacted the greatest in quantity an unexpected outcome.

The "turn"