Insurers rely on bullish stock market; nine-month financial results show that industry conditions remain bleak

Article Abstract:

The financial results for the life and health insurance industry for the first nine months of 1996 reveal that the industry has benefited from investment gains because of the bullish stock market, but continues to suffer from slow growth in premiums. As of Sep. 30, 1996, the consolidated net investment gain for life and health insurers in the first nine months had increased to $14.11 billion, a 20.8% increase over the same period in the previous year. Net premiums written increased 4.7% over the same period to reach $258.97 billion.

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Prognosis: guarded

Article Abstract:

Health maintenance organizations (HMOs) are continuing to gain market share in the health insurance business. HMO premiums rose by just 0.5% in 1996, according to a KPMG Peat Marwick L.L.P. national survey. Other health insurers are trying to compete by switching from a national to a regional focus. Keeping costs down will remain important for insurers. Trends for the Blue Cross and Blue Shield Association and Medicare supplemental coverage are discussed.

Direct Health and Medical Insurance Carriers, Hospital and medical service plans, Medical Care Insurance, Administration of Public Health Programs, Health Care Services, Management, Medical care, Health insurance, Managed care plans (Medical care), Health care reform, Medicare, Blue Cross and Blue Shield Association

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Outlook for Canada is positive

Article Abstract:

Canadian life and health insurance companies are expected to remain successful in spite of questions following the failure of Confederation Life Insurance Co. Merger activity is expected to continue in 1995, because a large number of companies compete for sales of both individual life policies and group life and health policies. Also, competition from banks that sell insurance increases the importance of good service.

Canada, Market share, Group insurance, Confederation Life Insurance Co.

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