In 2016, property/casualty premiums in the
“Some players are growing a little bit quicker than others,” said Mangan. “However, a lot of that is attributable to prior merger and acquisition activity, which is now flowing through on an accounting basis for 2016. Most participants have only seen modest or flat growth.”
Mangan also said he sees that reserve development has declined due to the challenging pricing environment and a drop in the average return-on-equity (ROE) due to lack of investment yield. “ROE was 7% in 2016, compared with 12.3% in 2013. That is quite a dramatic drop,” said Mangan.
Mangan believes the
To read the Best’s Briefing, titled, “Bermuda Market (Re)Insurers Continue To Fight the Strong Undercurrent of a Challenging Market,” go to http://www3.ambest.com/bestweek/purchase.asp?record_code=260129.
Recent episodes of A.M.BestTV include:
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A.M. BestAnalyst: Myles Gould, senior financial analyst, A.M. Best, said recent statistical changes that raise payouts for injury claims in the United Kingdomwill affect non-life insurers, but are not expected to trigger rating changes: http://www.ambest.com/v.asp?v=ogden417.
- Hammering Out the New Risks of Construction: Legal and insurance panelists examine emerging liability issues, such as how new standards are affecting the sector, and where insurers will see the next exposures: http://www.ambest.com/v.asp?v=construction317.
- Willis’ Angelini: Asian Insurers Pursue Mergers &Acquisitions Via Multiple Strategies:
Kevin Angelini, head of strategy, Asia-Pacific, Willis Towers Watson, said insurers in Japanwere relatively early to making international acquisitions, but that insurers in Chinaand elsewhere are pursuing different strategies to acquire companies and capabilities: http://www.ambest.com/v.asp?v=angelini417.
- Data Drought Limiting Cyber Coverage Growth: A report from the
Deloitte Center for Financial Servicessays the growth of cyber coverage is limited on both sides, as prospective insureds are not fully aware of their exposures and insurers have limited information with which to underwrite risks: http://www.ambest.com/v.asp?v=deloitte317.
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