Vietnam insurance market growing despite global economic turmoil A.M. Best, a credit ratings and financial research company service the insurance industry, has released a new report concerning the insurance market in Vietnam. The report notes that the country’s insurance market is showing strong signs of growth. This is despite the ongoing, worldwide economic problems that have stymied the insurance industry in some markets. A.M. Best is reporting that insurance premiums in Vietnam are growing by double-digit margins. The company expects this trend to continue as the country’s economy shows signs…
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A.M. Best report on Saudi Arabia insurance market shows a promising future for the country
A.M. Best, a global ratings and financial services firm that serves the insurance industry, has released a new report concerning the insurance market in Saudi Arabia. Over the past decade, the Saudi Arabian market has been inundated with its fair share of complications. Political turmoil and international pressures have stressed the market significantly in this time, but the market has shown profound resiliency to such factors. The report shows that the market’s ability to adapt to dramatic change has paved the way to a promising future. The report notes that…
Read MoreInsurance Law Podcast examines the use of social media as a tool for the insurance industry
A.M. Best, a worldwide ratings and financial data services company serving the global insurance industry, has released its latest installment of the Insurance Law Podcast. The series focuses on insurance issues from a legal perspective and seeks to supply viewers with an understanding of how insurance laws are affecting the industry as a whole. This week’s podcast focused on the issue of insurers using social media to price policies and investigate claims. The latest podcast features attorneys Daniel Santaniello and Heather Calhoon from Luks, Santaniello, Petrillo & Jones law firm.…
Read MoreAmerican insurance industry feeling the pinch of weak investments and catastrophes
A new report released by A.M. Best Co. Inc., has stated that the unprecedented number of natural disasters, poor returns from investments, and an economy that continued to struggle in 2011, has made it exceptionally difficult for the American property and casualty insurance industry’s commercial insurance and reinsurance sectors to grow and has caused notable hurt to their operating performances. It’s estimated by the rating agency, based in Oldwick, New Jersey, that last year’s underwriting losses from underwriters in the commercial property and casualty sector were approximately $15.2 billion. This…
Read MoreA.M. Best report shows the potential for growth seen in the Indian insurance market
A new report from A.M. Best, a global insurance rating company, shows that the insurance market of India is poised for major growth. This potential for growth is, however, offset significant challenges facing the insurance industry. The report, titled “Growth Anticipated for Indian Insurers, But Frustrations Remain”, indicates that the nation’s insurance industry will benefit from a growing middle class and economic growth in numerous industries. The report also highlights the shortcomings of the nation’s auto insurance market, which has become quite volatile as more people have begun driving. The…
Read MoreA.M. Best report highlights the problems facing the nation’s workers’ compensation insurance market
The U.S. workers’ compensation insurance market is in dire straits according to a new report from A.M. Best, an international rating agency. Agency analysts have been examining the effects of competition, rate decreases, economic turmoil and other factors throughout 2010 and have concluded that the market faces challenges times in the coming years. The report highlights the continuation of these trends for some time, but analysts note that the market may see modest growth for the first time since 2005 this year. The problems facing the workers’ compensation sector mirror…
Read MoreDespite unsteady market, insurance companies hold their ground
Insurance companies have been taking action to solidify their cash reserves since the start of the economic crisis, and have been working to decrease the number of high-risk investments within their investment portfolios, for example collateralized debt obligations. According to life insurance analyst Steven Schwartz, from Raymond James & Associates Inc., if they are not capable of borrowing money, holding companies are keeping notably more cash in order to cover their debts. In fact, they are currently holding twice to three times the amount that had been held in past…
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