Following 2006′s banner year, the property-casualty industry faces new challenges for the rest of the decade, according to a new Conning study.
Property-casualty insurers had a successful year in 2006 due to relatively light catastrophes. "Yet while 2007 is certainly off to a good start, the next two and a half years will likely be pressured by a return to more normal catastrophe activity," the report notes.
A combination of deteriorating premium rate adequacy, increasing loss severity and limited growth in investment yields will add to the pressure, according to the most recent forecast of the property-casualty industry by Conning Research and Consulting.
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