Unfavorable economic conditions and depressed investment income outlooks will continue to plague growth in the P&C industry at least through 2011 and the beginning of 2012, according to a report released by Conning Research today.
Forecasts for closing 2011 figures and projections of the business climate in 2012 are bleaker than previously presented. Since last quarter, the projected return on equity (ROE) within the industry for this year dropped by more than one percent; accordingly, the projected combined ratio worsened from 106.3 percent to 107.2 percent. While 2012 projections remain less elastic because it represents a more distant, unpredictable future, outlooks on premium growth and return on equity continued to worsen.
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