Way back on Jan. 5, I peered into my crystal ball for the likely Top-10 Property and Casualty Insurance Stories of 2009. Before you check on what turned out to be my actual picks, let's see how many of my predictions came true:
1: AIG's Fire Sale Comes Up Short! I was right when I predicted that "AIG will continue to struggle against the restraints imposed by meddling members of Congress as it sells more subsidiaries at bargain prices to pay off its federal bailout loan." However, my fear that AIG would require additional federal funds is thus far unfounded.
2: As The Market Turns! I was right on target in figuring that commercial insurance price cuts would level off, but would "not rebound as sharply as the industry hopes." I properly suggested "there is still too much competition in a contracting economy," noting that "troubled carriers are pricing aggressively to overcome reputational risks and maintain market share."
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.