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New Market Study Published: United States Insurance Report Q4 2012

New Financial Services market report from Business Monitor International: "United States Insurance Report Q4 2012"


Boston, MA -- (SBWIRE) -- 10/04/2012 -- Key Insights On The US Insurance Sector

The United States Insurance Report considers the prospects for both life and non-life (property & casualty and health) insurers. What both segments have in common is that the major companies have been able to leverage a combination of strengths to remain profitable - and, in many cases - to grow quite rapidly in 2011 and early 2012: this has been face of enormous challenges.

The report identifies the major trends and themes in both the life and the non-life segments. It incorporates BMI's latest economic forecasts and projections for relevant aspects of the US economy, such as spending on healthcare and registrations of automobiles. Crucially, the report places the US insurance sector in the context of all the other national markets that are surveyed by BMI.

The published results of the major life insurance companies confirm that they are major beneficiaries of the ongoing growth of organised savings in the United States, with growth in premiums written the norm. Some of the leading companies have posted double-digit growth in sales last year. Many have maintained levels of profitability (and, in the case of mutuals, increased dividend payments to policyholders) in spite of the low interest rate environment and periodic volatility in financial markets through H211. Although the level of profitability of the property & casualty companies has fallen to multi-year lows, the latest data, published in mid-April 2012 shows that the segment performed well in a year marked by low interest rates. The non-life insurance companies also had to contend with net losses and loss adjustment expenses (LLAE) in excess of US$35bn last year.

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Relative to its peers in other developed countries, the US insurance sector continues to appear prospective in terms of its Risk/Reward Ratings. BMI envisages substantial growth in absolute terms through the forecast period, even if this is driven mainly by a rise in nominal GDP. The high levels of non-life penetration and life density indicate that both segments play a central role in risk management by households and businesses: the overwhelming majority of the organised savings solutions in the country are provided by life insurance companies, affiliates, or commercial partners. We would also emphasise that the overall sector has been strengthened by a regulatory regime that, overall, is very efficient and by the innovation of the insurance companies themselves.

Over the last quarter, BMI has made the following changes:

- Corporate profiles have been comprehensively rewritten.
- The assessment of developments in the life segment now incorporates the extensive comments on conditions and trends published by the major companies (both listed and mutual) in their reports on 2011 and Q112.
- Projections include the latest wave of data that point to broad-based growth across much of the US economy.

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