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The Property Casualty Insurance Industry: Issues and Forecast

The Property Casualty Insurance Industry: Issues and Forecast. Gary Vallo CEO Middlesex Mutual Assurance Holyoke Mutual Insurance. Country Insurance and Financial Services Insurance Pool. A reinsurance pool of insurance companies Middlesex Mutual joined in 1997 Holyoke joined in 1998

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The Property Casualty Insurance Industry: Issues and Forecast

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  1. The Property Casualty Insurance Industry:Issues and Forecast Gary Vallo CEO Middlesex Mutual Assurance Holyoke Mutual Insurance

  2. Country Insurance and Financial Services Insurance Pool • A reinsurance pool of insurance companies • Middlesex Mutual joined in 1997 • Holyoke joined in 1998 • One of the top 50 P&C insurers in the US • Countrywide distribution of products • Rated A+ by A.M.Best

  3. An Overview of Property Casualty Insurance Issues

  4. The Insurance Industry has weathered some major catastrophes in the past 10 years Source: Insurance Services Office

  5. But industry capital appears strong compared to underwriting commitments ... Source:A.M. Best MMA est.

  6. … and profitability is improving Source:A.M. Best& NAII

  7. … but some dark clouds remain on the horizon • Reserve adequacy • Exposure to catastrophic loss • Poor competitive environment

  8. Competitive Environment • Too many companies • With too little difference • In a low growth marketplace • With cumbersome, anti-competitive regulation

  9. The future, for the weak, remains bleak ... Source:A.M. Best

  10. Forecast • Pace of consolidation and strategic partnering will heat up • Gradual melting of profit margins • Continued glacial rate of regulatory change • Strengthening winds along the Atlantic coast

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