Insurers in both the US and globally should benefit from improved operating conditions and the initiatives they have been pursuing in response to the challenges of the past few years, according to a new study by Conning.
“Our outlook for the US insurance industry in 2014 is for stable results and some gradual improvement across most segments, but with increasing uncertainty brought on by economic, political or regulatory developments unfolding in the period,” said Stephan Christiansen, managing director at Conning. “That said, economic drivers are mostly favourable, and many companies are beginning to reap the rewards of investments in technology and an increasingly analytical approach to the business.”
The Conning study, “US and Global Insurance Industry Outlook: Improving Performance Amid Economic and Regulatory Challenges” presents the challenges and potential insurer responses for the industry generally, with separate discussions for US Property-Casualty; US Life-Annuity, and US Health Insurance, as well as Europe and Asia.
“Our outlook for the global insurance industry, like the US, is shaped by three key factors: economic climate, interest rate environment, and regulation,” said Steve Webersen, director of research at Conning. “Fragmented economic growth is creating new pockets of opportunity, while challenging established markets. As in the US, growing regulatory convergence and complexity are increasingly commanding insurer attention and resources.”
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