More than 70 percent of executives surveyed at an industry conference believe the property and casualty insurance sector will see premium growth in the year ahead.
Also, nearly half of the 150 property-casualty executives surveyed at KPMG's 17th Annual Insurance Industry Conference said they believe that regulatory risk poses the greatest threat to their industry. That 46 percent figure represents a doubling of the percentage that believed so at the same event last year, KPMG said.
A total of 30 percent felt concentration of risk posed the greatest threat, while interest rate risk was the top concern of 9 percent of the respondents.
"In light of events that have impacted the industry, it is not surprising to find executives anxious about risk management and compliance issues," said Fred Donner, national leader for KPMG's insurance practice.
The executives expect not only more premium growth in the wake of Hurricanes Katrina and Rita but also higher profit margins, with 70 percent expressing such a belief.
Executives also feel the insurance industry is better positioned to withstand the aftermath of natural disasters. Nearly 90 percent felt there would not be the same industry fallout that occurred after Hurricane Andrew in 1992.
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