Why 2008 is Shaping Up to Be a Make or Break Year for the P/C Insurance Industry: Trends, Challenges & Opportunity

This PowerPoint report, presented by Robert Hartwig, president of the Insurance Information Institute, at the annual meeting of the State Insurance Trade Association in Seattle, offers an overview and outlook of the property/casualty insurance market with updated and revised financial information through the first half of 2007.  It notes that results were excellent in 2006 and strong in the first half of 2007 but that returns on equity are slipping.  Underwriting results have been aided by a lack of natural catastrophes and favorable underlying loss trends, including tort system improvements.  A greater share of profits is coming from investment gains as underwriting results begin to slip.  Premium growth is also under pressure, slowing to a near standstill, and property catastrophe reinsurance markets are past their peak and more competitive.  Rising investment returns will not be sufficient to support a deep soft market in terms of pricing, terms and conditions.  The report emphasizes insurers need to remain focused on underwriting and on how and where to deploy capital.  A special section discusses the impact of the subprime lending crisis on insurers.

The following presentation is called "Why 2008 is Shaping Up to Be a Make or Break Year for the P/C Insurance Industry: Trends, Challenges & Opportunity". It was presented by Dr. Robert P. Hartwig on September 25, 2007.

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