Insurance Banana Skins - 2009 |
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The survey shows financial market concerns, including investment performance, equity markets and capital management, topping the ranking of risks facing the industry in many parts of the world. This is in sharp contrast to the previous survey in 2007 when too much regulation and natural catastrophes were top of mind, and market risks barely featured in the top ten.
Achieving strong investment returns to maintain their profitability and reserves are a must as the insurance industry faces a crucial challenge to manage its way through the financial crisis. But the survey reveals a dramatic fall in insurers feeling well-prepared to address the risks identified, a drop from 21% down to 4%. However, with an increase in the risk sensitivity level reflecting a shift in how the severity of risks are perceived, perhaps risk is moving up the board agenda.
© 2010 PricewaterhouseCoopers. All rights reserved. "PricewaterhouseCoopers" and "PwC" refer to the network of member firms of PricewaterhouseCoopers International Limited (PwCIL). Each member firm is a separate legal entity and does not act as agent of PwCIL or any other member firm. PwCIL does not provide any services to clients. PwCIL is not responsible or liable for the acts or omissions of any of its member firms nor can it control the exercise of their professional judgment or bind them in any way. No member firm is responsible or liable for the acts or omissions of any other member firm nor can it control the exercise of another member firm's professional judgment or bind another member firm or PwCIL in any way.
Insurance Banana Skins 2009
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