Property/casualty insurance CFOs expect to continue to face an uncertain economic climate, fierce competition and the lingering impact of major catastrophes. And, these challenges are the driving forces of the market. This is what data from “State of the Insurance Market”—the inaugural P&C CFO survey from Towers Watson—indicates.
Forty CFOs representing commercial and personal lines participated in the survey, and many are optimistic about the future of the market. The majority (74 percent) of CFOs believe standard property market prices were at the bottom or turning upward, Meanwhile 87 percent of the CFOs believe the casualty market is still soft or at the bottom of the cycle—80 percent of these CFOs said it is within two years of hardening.
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