Boston, MA -- (SBWIRE) -- 06/06/2014 -- BMI View: The latest results from the leading players - in both of the main segments of the United States' insurance sector - highlight how the underlying businesses are mature. Nevertheless, demographic changes should underpin consistent growth in the life segment: this is at a time that organic growth will continue in the health insurance sub-sector (especially) and in most other parts of the non-life segment. Meanwhile, the companies themselves are focusing on profitability rather than on growth for its own sake. We remain of the view that the United States is one of the most dynamic and exciting of any that BMI monitors.
Almost all US insurance companies will benefit in the coming year from their ability to exploit leadership positions in particular niches; economies of scale; access to capital - regardless of corporate structure; suitably broad portfolios of products; multi-channel distribution; widely recognised brands and; innovation in terms of the products that they offer. External trends, such as the recovery in the stock market (and, consequently, improved investment earnings), the sustained growth in the economy and the relentless expansion of health insurance are additional positives. The United States' insurance sector is mature. However, it is also dynamic. Both the insurance companies themselves and their enormously diverse customers will likely benefit from the changes that are underway.
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The prospects for the United States' insurance sector over the next year or so are dominated by three themes. First, the sustained, and likely to be continued, economic recovery has clearly had a positive impact on gross premiums in a number of sub-sectors. We are looking for property insurance premiums, for instance, to rise by a little over 8% in 2013 and by about 4% through 2014 and for the rest of the forecast period.
However, the expansion of health insurance should make the biggest difference in terms of additional premiums written, both in 2014 and in...
The United States Insurance Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.
BMI's United States Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the American insurance industry.
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