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Property and Casualty Insurance Sector Improving


January 5 - Stockcall.com has recently published the results of comprehensive research on the property and casualty insurance sector. It has specifically analysed Hartford Financial Services Group Inc. and American International Group Inc.

The property and casualty insurance sector saw a 62% increase in net income in the first nine months of 2010, despite seeing a slight loss in Q3.

The increase came on the heals of improving financial results and increased capital gains. The investment gains can be attributed to stronger capital markets in the period.

During Q3 the property and casualty industry saw a 2.3% rise in sales from figures for earlier in the year.

Losses in the commercial sector were offset by growth in individual policies. It is expected that the sector will continue to grow, assuming no major catastrophes strike.

Due to this increase, re-insurers are suggesting that there may be a drop in rates over January of around 7.5%. In some instances, rates fell 6% last January, although this was not uniform throughout the industry.

There are instances, particularly in areas where disaster struck, that rate increases can be expected.

Florida is one of the markets most exposed to natural disasters and they will be feeling the effects of this with rate increases and lower levels of coverage expected. This can be attributed to a combination of factors including outstanding claims from Hurricane Wilma, changes to mitigation discount policies and the discovery of new sinkhole problems.

Stockcall.com is a Johannesburg based firm which offers investors comprehensive research on various insurance markets.



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1/5/2011 9:15:09 AM
Property insurance
Wednesday, January 05, 2011

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