Overall, the insurance industry has experienced an excellent quarter, leading Clifford Gallant, equity analyst for Nomura Securities International to wonder if this is as good as it gets.
“The P&C industry had a great quarter,” Gallant said. “We typically expect the third quarter to take some storm losses. But this year has been a particularly fortunate year. There were really no U.S. catastrophic events, and even globally the number of insured events have been small. Revenues were up in terms of premiums, positive pricing increases have come through and the industry benefited from reserve releases as well. All around, it was a very good earnings quarter for the industry.”
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