Good news for P&C insurers: Analysis from SNL Financial shows signs that the prolonged P&C soft market is hardening. This conclusion—from analysis of preliminary fourth-quarter statutory insurance data—is contrary to earlier reports from other insurance data providers that say that P&C rates are holding steady.

SNL made its assessment after seeing that U.S. property/casualty industry premiums grew at their fastest rate since 2006 in response to underwriting losses and unfavorable reserve development.

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