Further rate increases for property/casualty insurance are expected for 2013, and they will "lead to underlying margin expansion," a report from Barclays Capital says. The industry faces expectations that "are now elevated with little room for missteps, in our view," the report said. Commercial insurers "remain constructive about the P&C pricing environment, while reinsurers appear more positive on property reinsurance rates for the critical Jan. 1 renewal season," according to the report.

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