BestWeek: Combined Ratio for P/C Writers Tips 100 Mark in Fi
Tuesday, Jun 16,2009, 10:52:22 AM Click:
In BestWeek Europe, U.K. life insurers are facing a trading environment marked by low investment returns and diminishing new business as overall economic uncertainty dampens growth prospects. Across the sector, sales were down or static in the first quarter of 2009. Life companies continued to grapple with the effects of weak U.K. housing market and the resultant lower demand for mortgage-related insurance products. Weak equity prices, both among the stocks the insurers issue and those they own, are hobbling another pillar of financial support, BestWeek reported.
Also, in BestWeek U.S./Canada, when the markets headed sharply downhill last fall, companies suddenly had to re-assess their offers of guaranteed lifetime withdrawal benefits on variable annuities. The guarantees were great for policyholders who had seen their contract values so rapidly decline. But the declines tested the financial resilience of the insurers, and most have spent this year scaling back benefits and/or raising fees on their new contracts. Some have even temporarily stopped selling variable annuities, according to BestWeek.
BestWeek is published by A.M. Best Co. for insurance professionals. To subscribe, please visit www.ambest.com/sales/BestWeek, or e-mail your request to customer_service@ambest.com.
Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.
You may also be interested in:
Featured
Coalition Says Public Health Option Would Lead to
The current debate over health care reform has spawned town hall meetings all
Research and Markets: private health care in Central
Copyright: Business Wire Source: Business Wire Wordcount: DUBLIN--(BUSINESS
AHIP Rejects Insurance Industry Fees in Baucus' Health
As Congress returned to session, key senators returned immediately to the
Study Illuminates 401(k) Participants’ Preferences
LOS ANGELES--(BUSINESS WIRE)-- While the national policy debate about 401(k)
Deer, drivers vying for road right of way: Motorists
When Reno County Sheriff's Detective Diana Skomal refers to her deer season,
BestWeek: Auto Writers Play Rough After Reform in
OLDWICK, N.J., Apr 03, 2009 (A. M. Best via COMTEX) -- ZALOF | Quote | Chart |
Bank of America began to reduce the principal amount
Bank of America Corp., one of the largest mortgage lenders in Florida, said
MOST POPULAR
- Most Read
- Most Discussed
- Most Emailed
- Class-action Suit Filed Against Nationwide Insurance
- Fiesta Insurance Plans 18 New Stores after Sales Growth
- Hartford Lawsuit Accuses Arch of Poaching Employees, Business
- Couple Charged With $38 Million Workers' Compensation Insura
- Florida Regulators Cite Liberty National Life Insurance In B
- BestWeek: Combined Ratio for P/C Writers Tips 100 Mark in Fi
- Allstate Asks N.J. for 15.4% Average Auto Rate Increase
- ‘Cash for Clunkers’ Requires Year of Continuous Auto Insurance Coverage on Trade-In
- Towers Perrin, Watson Wyatt Merger Could Shake Up Employee Benefits Industry
- Judge Upholds $13.1 Million Verdict in Lincoln Annuity Patent Case
-
Digital Insurance Touts High Ranking on Inc. 5,000 List -
Be the Hero in Your Community and Help Your Neighbors in Need -
Lack of available financing frustrates sector's efforts at economic growth -
AIG continues the country's unity over loan losses -
Individual Long Term Care Insurance Premium Falls 23 percent -
Tax credit may offer foreclosure buffer, analyst says -
Hardest hit by the economy, Americans risk Knockout Without -
AIG Confirms Loss of Directors at Banque AIG


Discuss this news
Click Here to see all comments