Property/casualty insurers are likely to post favorable results for the first quarter as rates increase for commercial and personal lines, according to a report from Keefe, Bruyette & Woods. "As we head into 1Q13 earnings season, we're less worried about insurers and brokers missing consensus estimates than we are about management rate outlook commentary falling short of investors' expectations relative to the sector's strong [year-to-date] performance," the report says.

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