The insurance industry was hit hard in 2017. Catastrophic weather events struck like never before, cyber attacks were on the rise, and the insurance industry had to withstand it all.
As we near the halfway point of 2018, it's important to look back at the previous year and see how the insurance industry is doing financially. There are no guarantees in 2018, and the industry would be wise to be prepared for a number of scenarios.
Morgan Stanley recently released a report analyzing the property & casualty insurance industry from a financial perspective. Their proprietary annual actuarial analysis of industry reserves reveals a $4.3 billion deficiency in 2017, and they've reduced their 2018-2019 reserve estimates by 3-5% on average.
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Denny Jacob
Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected].
