Investments for Casualty Companies [Discussion]

The lack of a fair underwriting profit for the casualty business during recent years has a most important bearing upon the questions of investment returns and investment policies. It is difficult, if not impossible, to forecast or predict underwriting results. Rates for coverages are constantly being forced down. State control of rates is expanding and the situation in compensation insurance is far from satisfactory. In general the outlook for better times in underwriting results is not particularly encouraging. Consequently it is necessary to give most careful consideration to investment returns.