Soft US P&C market may extend for years: Barclays

The US property and casualty market may be years from an
inflection point at which the current "soft" market
hardens and commercial pricing trends improve, Barclays analyst Jay
Gelb noted.
Using a measure of underwriting cash flow, Gelb showed in a
report that the industry is still cash-flow positive for commercial
underwriting. The positive flow peaked in 2014.
But, he said, "the trend appears to be
deteriorating".
Even so, Gelb noted that periods of negative cash flow can
persist for...