Submitted by: Submitted by bidoura
Views: 426
Words: 13838
Pages: 56
Category: Science and Technology
Date Submitted: 10/17/2011 08:34 AM
Windows of opportunity
2011 global insurance outlook
2
Contents
Executive Summary ................................. 1 Asia-Pacific ............................................. 3 Europe .................................................... 13 US life ..................................................... 23 US property/casualty ............................... 29
Windows of opportunity: 2011 global insurance outlook
3
1
Executive Summary
Ernst & Young’s global insurance outlook explores the issues confronting global insurance organizations in 2011. In this report, we offer our perspective on the insurance markets in Asia-Pacific and Europe, as well as the US life and US property/casualty sectors. The key themes for 2011 are:
Asia-Pacific
• Adjusting and expanding distribution strategies amid shifting demographics and consumer buying patterns • Developing strategies to shape and comply with the heightened pace of local and global regulatory and accounting developments • Developing dependable capital sources required to support accelerating business growth • Operational improvements, takaful opportunities and regional hubs
US life
• Responding to the changing regulatory environment • Establishing capital and risk management solutions post-crisis • Improving operational efficiencies to control cost • Reinventing products and distribution to energize growth
US property/casualty
• Operating in a sluggish US economy • Enduring the soft underwriting cycle • Leveraging analytics to drive the growth agenda • Effectively transitioning to the new accounting standards • Anticipating regulatory and legislative developments • Analyzing opportunities for managing excess capital
Europe
• Manage critical capital and risk challenges • Develop distribution flexibility and support systems • Improve process efficiency and develop new markets • Focus on non-life loss control • Optimize corporate structure and domicile
Windows of opportunity: 2011...