KPMG Poll: Insurer Confidence Lags
By Jim Connolly
NU Online News Service, Sept. 28, 11:24 a.m. EDT, New York?Confidence in the ability of insurers to increase margins and grow premiums slipped over last year, according to a poll of insurance professionals yesterday at an industry conference here.[@@]
That finding was made after an instant electronic poll at the 16th annual conference sponsored by KPMG LLP.
None of the 144 attendees who responded to a question about the industry's ability to increase margins said that that ability was strong. A total of 65.3 percent called that ability moderate, and 34.7 percent, weak. Those answers compare to a 2003 response of 11 percent, strong; 57 percent, moderate; and 32 percent, weak.
Respondents were also asked about the ability of the life and health industry to experience premium growth. A total of 47.7 percent of 130 respondents said that premiums would increase; 16.9 percent, decrease; and 35 percent said premiums would stay the same.
Last year 58 percent said premiums would increase; 11 percent, decrease; and 31 percent, stay the same.
The same question was posed for the property-casualty industry. Of 143 responses, 43.4 percent said premiums would increase; 23.1 percent, decrease; and 33.6 percent, stay the same. When the question was asked at last year's conference, 65 percent said that there would be premium growth; 13 percent said that there would be a decrease; and 22 percent said that premiums would remain the same.
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