HARTFORD, Conn.--The convergence of regulatory environments for the financial markets and the banking industry have created a friendlier climate for multinational life insurers, according to a new study by Conning Research and Consulting, Inc.
"The insurance industry is consolidating internationally," said Terence Martin, analyst at Conning Research & Consulting. "In fact, large multinational insurance companies control more than 50% of the U.S. life insurance market, as measured by 2003 premiums."
The Conning Research study, "Multinational Life Insurers: Opportunities and Innovations in a Converging World" identifies the key issues related to international expansion in the life industry, and offers an overview of global markets, regulations, strategies, and best practices of the multinational players.
"The convergence of the world's financial markets created the consistency that firms needed to grow across borders," said Stephan Christiansen, research director at Conning Research & Consulting. "Now the question they face is how to successfully seize these new opportunities."
Source: Conning Research and Consulting Inc.
