The state of Europe

The European property and casualty (P&C) insurance market has faced a variety of challenges in recent years. The events of September 11, 2001, and the increased frequency and severity of European catastrophes have added further injury to a market place weakened by falling interest rates, an equity bear market and weak economic growth. The insurance industry as a whole, however, has survived this adversity and is looking forward to a brighter future.Growth trends as a whole, and particularly