The industry at a turning point

Never before has the property/casualty insurance industry experienced such a polarization between successful and struggling companies. The strategic decisions companies make at this turning point will determine how well they survive the turbulent operating environment of the coming year. From a fina...

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Bibliographic Details
Published in:Best's review (Property/casualty insurance ed.) 1996-01, Vol.96 (9), p.36
Main Authors: Snyder, John H, Simpson, Eric M, Shulman, Marvin L, Watson, Teri, Taylor, Mervin S
Format: Article
Language:English
Subjects:
Industrywide conditions
Insurance industry
Predictions
Ratings & rankings
Statistical data
Success
Trends
Year in review
Online Access:Get full text
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Summary:Never before has the property/casualty insurance industry experienced such a polarization between successful and struggling companies. The strategic decisions companies make at this turning point will determine how well they survive the turbulent operating environment of the coming year. From a financial perspective, successful companies will be those that generate sustained and improved operating returns and continue to improve their balance sheet quality. From a strategic perspective, insurers that continue to enhance their market positions as the result of competitive advantages in underwriting expertise, distribution or service will also likely succeed. Conversely, insurers that exhibit weak trends in market presence or profitability and have lingering balance sheet or off-balance sheet issues - particularly those with high exposure to catastrophe losses or environmental and asbestos liabilities - will tend to fare poorly.
ISSN:0161-7745