Commercial insurance market is on the cusp of a new growth

Jay Fishman, the chief executive of Travelers Cos. spoke at a financial services conference for Goldman Sachs, and announced that the insurer had boosted their business insurance prices in October by 5.2 percent, and in November by 5.8 percent, which are the most significant increases that have been made in a number of years. Travelers is known for painting a brighter image of prices than other insurance companies, and this latest announcement doesn’t appear to have changed that fact. However, at the same time, when the insurer said that it…

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Moody’s predicts MMC to hold its position at top of market

  Moody’s has announced that it predicts that Marsh & McLennan Cos. Inc. will maintain its current leading position in its main function as an insurance broker and consultant, as it seeks to make improvements to its business performance so that it can gain further hold in the marketplace.  Lead analyst for Marsh & McLennan at Moody’s, Bruce Ballentine, said that they forecast “MMC’s credit metrics to benefit from restructuring steps and debt reduction achieved over the past few years.”  He went on to explain that the stability of the…

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Property/Casualty Insurers see first quarter profit drops from increasing underwriting losses

Property/Casualty Insurers, a private American company, reported that after taxes, their net income fell to $7.8 billion within 2011’s first quarter from last year’s first-quarter profits which were at $8.9 billion. Moreover, there was a drop from 6.8 percent to 5.6 percent in that insurer’s average policyholder surplus annualized rate of return. As a result of the net income of the insurer of $7.8 billion after taxes, the surplus of policyholders did rise by 1.4 percent to $7.8 billion, to hit a record by March 31 of $564.7 billion. This…

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