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US P&C Pricing Update


Viking
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Below is the link to an article referencing information from MarketScout: "MarketScout insurance exchange reported that the U.S. property and casualty market remained soft, as rate declines for risk placements continued moderating at a slow but steady pace."

 

Here is a quote I found interesting: Mr. Kerr advised that “smart insurers are retaining their capacity until sensible risk return ratios are available,” and “poor underwriting results are pending for some major insurers. Expect significant market movement in the next twelve months with clear winners and losers.”

 

There is a perspective that pricing has not been hardening fast enough in the past 12 months as some insurers have been underpricing.... if this is the case, C&F will be in an ideal position as some insurers begin reporting reserve issues and rates harden.

 

http://www.property-casualty.com/News/2009/7/Pages/PC-Market-Rates-Down-6-Reductions-Lessen.aspx

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I remember a South Park movie song "Blame Canada". When I red the text of the article and remembered some insurance executives comments made over the last few months, I changed the word "Canada" for "AIG".

 

Here is the original song (sensible ears beware, it's typical South Park stuff):

 

http://www.metacafe.com/watch/428397/south_park_blame_canada/

 

So let's start a "Investors against AIG" group and blame AIG!  ;)

 

Jokes appart, AIG might, like some said, be one of the reasons why you see a substained soft market.

 

Cheers!

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