Awards


INSURERS US insurer of the year—Chartis   


REINSURERS US reinsurer of the year—Swiss Re   


 US insurance broker of the year—Marsh   


     


Gen Re also made it onto the leaders’ board,  While Marsh swept the entire board in the insur- 


WEDNESDAY 10.31.12


SERVICE PROVIDERS        


OUTSTANDING INDIVIDUALS    chairman of ACE    and chairman of Everest Re


back its place to dominate the reinsurance category, which was dominated by Guy Carpenter in 2011.   


A stable industry despite many challenges D


espite some of the challenges facing it, the outlook for the US insurance sector


remains stable. Strong capitalisation, positive demand and a conservative investment portfolio have outweighed inadequate rates and the ending of reserve releases, that the industry has   That is the view from rating agency Standard


 agency expects the same number of upgrades as downgrades over the next 12 months. 


primary insurers covering personal and commer- cial lines, says rates on personal lines have been  started hardening in 2011 but they have not im- proved enough to offset the soft market. Rates in the sector stagnated from 2004 and some lines saw substantial decreases from 2007. “Any increases have not yet been enough to off- set many years of soft rates on the commercial side


www.intelligentinsurer.com


      accountant.


Some the winners picked up their awards at the PCI conference in Dana Point this week. 


plus the poor investment returns we are now see-   releases in recent years, which have masked the true  


       the insurance sector will outpace overall GDP growth. She says exposure will grow in line with GDP but rate increases coming through should make this possible. “So overall, we see the sector       


point for the rating agency at this year’s annual PCI conference revolves around explaining its recent revision of its ratings criteria for insur- ers and reinsurers globally. The company issued new proposed guidelines several months ago on which it requested feedback from the industry. -


 global insurance and reinsurance, says that the





rating agency received feedback comments from around 100 companies including insurers, bro-       a number of areas, each of which will now be - odology in about six months. He says a number of companies sought clari-


 in its evaluation of insurers. They sought more understanding on how peers would be selected, which companies might be included in this and how this could potentially affect their rating.


Wednesday October 31 2012 | INTELLIGENT INSURER —PCIAA TODAY | 11


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