New marketplace developments will tend to favor larger personal lines carriers and prompt an exit of many smaller competitors, according to a new research study.
Conning Research & Consulting analyst Bruce Hale said analysis of the financial results of 2002-2004 found "significant" changes in the competitive landscape.
"A handful of larger personal lines market leaders, and a few outperforming specialist players, will soon be able to set and maintain aggressive pricing levels that will be untenable for many lagging insurers," the report said.
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