P&C insurers attending 2013 Property Casualty Insurers Association of America Annual Meeting, held in Boston earlier this week, said they have opportunities to grow in 2014.
Guy Carpenter & Co., a global risk and reinsurance specialist and member of Marsh & McLennan Co.’s, conducted a survey at the event and found that one-third of respondents (33 percent) believe that the biggest opportunity to grow their business in 2014 will be through geographic expansion. This is followed by new products (24 percent), which last year was ranked as the top response, and new distribution channels (23 percent). As compared with 2012, respondents in this year’s survey were more than twice as likely (15 percent vs. 7 percent) to cite mergers and acquisitions as the biggest growth opportunity for their business in the year ahead.
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