Worth Repeating

"I'll keep my wisecracks kind of obtuse given today's world."

Ramani Ayer, CEO, The Hartford

"If you look at the R.O.E.s in our industry, it's never been very good. Last year it was a really good year and I think the estimate is 9 percent. If you look at insurance companies, it's somewhere between 13 percent and 15 percent. So, frankly, I would tell an investor to find another industry. I hate to say it, but I think it's true."

Warren W. Heck, chairman and CEO, Greater New York Mutual Insurance Co.

"I've been 35 years in the business and I'm still trying to understand what hard market and soft market is. I believe you should run your companies irrespective of markets."

Jan Carendi, chairman, Fireman's Fund Insurance Co.

"I think that we work in a schizophrenic industry and when things are good we make them bad, and when they are bad we try to get them good."

Martin D. Feinstein, chairman and CEO, Farmers Group Inc.

"This is an industry, excuse me if I offend anybody, that has more forums and more groups but not one unified forum to get a seat at the table. And that's when you get picked off in a fight. This industry has to come together."

James J. Schiro, CEO, Zurich Financial Services Group

April 1, 2005

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