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Celent: Insurance IT Still Growing

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North American and world insurance information technology spending could increase slightly this year.

Overall world financial services IT spending could fall to about $353 billion this year, down 1.3% from the 2008 total, according to forecasters at Celent L.L.C., Boston, a unit of Marsh & McLennan Companies Inc., New York.

But world insurance IT spending could increase 1%, to $105 billion, and North American insurance IT spending could increase 3.5%, to $35 billion, the forecasters estimate.