United States Insurance Report - Q4 2014

Business Monitor International
September 10, 2014
78 Pages - SKU: BMI5325733
Countries covered: United States

United States Insurance Report - Q4 2014

BMI View: As of mid-2014, the latest results from the leading players in the life and the non-life segmentsof the United States' massive insurance sector confirm that gross written premiums have been growing atfairly pedestrian single-digit rates and, for most lines, will continue to do so. However, the United States ispar excellence an example of an insurance market where the absolute level of premiums and growththerein, is far from the whole story. In the non-life segment, companies are benefiting from the acceleratinggrowth in the economy, the increased activity in particular sectors (such as energy), firming prices and therelative absence of claims costs. This is at a time when levels of capital (and protection of property &casualty providers by catastrophe bonds) are at record high levels. In the life segment, it is easy to identifyopportunities. Due to the tens of millions of households who are uninsured or underinsured, the lifeinsurance gap is estimated by industry sources as amounting to approximately USD15,000bn. Demographicchanges remain favourable. Many companies are undertaking initiatives in terms of products anddistribution that should boost profits and/or sales.

In the coming year, almost all US insurance companies will benefit from their ability to exploit leadershippositions 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 innovationin 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 relentlessexpansion of health insurance are additional positives. Both the insurance companies themselves and theirenormously diverse customers will likely benefit from the changes that are underway.



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