A spectacular year that won't be repeated
Article Abstract:
Research conducted by A.M. Best on the 1997 status of the property and casualty industry showed that the industry produced the strongest underwriting results in nearly 20 years. The industry showed strong surplus growth of 17%, though premium growth remained slow, at 3.2%, with net premiums rising from $268.6 billion in 1996 to $277.3 billion in 1997. However, it is believed that present underwriting trends are still cyclical in individual markets. Thus, it is predicted that 1997 record results are not sustainable, which may result in the deterioration of normalized calendar-year results in 1998 and beyond.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1998
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Coping with turmoil in the Korean life market
Article Abstract:
More than half of life insurance agencies in Korea have become insolvent on a statutory basis as of Mar 31, 1997. The firms focused only on growth through new sales and asset accumulation and did not consider consumer needs, business quality or corporate profitability. A number of companies have introduced various initiatives to improve their financial performance such as the ushering in of rigid screening and hiring standard, and the allocation of resources for employee training purposes.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Coping with turmoil in the Korean life market. Certain employer plans hold risk for agents. Compensation plans keeping pace with global market
- Abstracts: Global trends predicted to remain steady in 1997. Fighting fire with fire: insurers move into banking. France
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- Abstracts: 1997: a year of profits, mergers and regulation tussles. Getting into management's head
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