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From: Dale Baker	9/27/2007 1:58:52 PM
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Sector Snap: Insurers Rise Thursday September 27, 1:33 pm ET Mild Hurricane Season Prompts Goldman Analyst to Boost Profit Estimates for Insurers NEW YORK (AP) -- A Goldman Sachs analyst on Thursday raised his third-quarter profit estimates for insurers, saying predictions for a dire hurricane season have proven wrong so far. Despite predictions for a bad hurricane season, Goldman Sachs analyst Thomas V. Cholnoky wrote in a research report, the season has been benign. There have been eleven named stores this quarter, but it appears insured losses will still be below-average, Cholnoky said. He raised his profit estimates for virtually every company he covers by an average of 27 percent for the third quarter and 5 percent for fiscal 2007. One hindrance to insurers' profits this quarter will be weaker investment returns from the fallout in the credit markets this summer. Insurers collect billions of dollars in premiums every year and typically park it in investments such as stocks or bonds. Often, they put money into investment funds like private equity partnerships and hedge funds. Many of these funds ran into trouble this summer amid a flight from risk. However, Cholnoky expects "extremely high returns" for the insurers this quarter because of the mild hurricane season.

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