Wednesday, June 24, 2009
Conning Research: Short Term Challenges Still the Focus for Life Insurers After $51 Billion Loss in 2008
Longer term trends are favorable for industry
The life-annuity industry is still struggling to shake off the impact of the financial crisis of 2008 and the resulting significant decreases in assets and surplus, according to a new report by Conning Research and Consulting.
"Preliminary results for 2008 indicate that the life insurance industry had a statutory net loss of $51 billion, and that ending surplus plus AVR dropped 13 percent to $273 billion," said Terence Martin, analyst at Conning Research & Consulting. "Our latest forecast for the life-annuity industry projects net operating gain to recover, but realized and unrealized capital losses will continue to challenge the industry at least through 2009. While the industry will show a net statutory operating gain in 2009, it will be far below the robust levels of 2003 through 2007."
Conning's semi-annual "Life-Annuity Forecast & Analysis by Line of Business" offers the most comprehensive and up-to-date industry forecast and commentary for key lines of business and the industry as a whole...
PR Newswire: Conning Research: Short Term Challenges Still the Focus for Life Insurers After $51 Billion Loss in 2008
The life-annuity industry is still struggling to shake off the impact of the financial crisis of 2008 and the resulting significant decreases in assets and surplus, according to a new report by Conning Research and Consulting.
"Preliminary results for 2008 indicate that the life insurance industry had a statutory net loss of $51 billion, and that ending surplus plus AVR dropped 13 percent to $273 billion," said Terence Martin, analyst at Conning Research & Consulting. "Our latest forecast for the life-annuity industry projects net operating gain to recover, but realized and unrealized capital losses will continue to challenge the industry at least through 2009. While the industry will show a net statutory operating gain in 2009, it will be far below the robust levels of 2003 through 2007."
Conning's semi-annual "Life-Annuity Forecast & Analysis by Line of Business" offers the most comprehensive and up-to-date industry forecast and commentary for key lines of business and the industry as a whole...
PR Newswire: Conning Research: Short Term Challenges Still the Focus for Life Insurers After $51 Billion Loss in 2008
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