Energy insurers that continue to write business for market share and ignore their policyholders' needs are going to find themselves in a no-growth situation, according to an executive with one such insurer.
In recent years, energy insurers have underperformed the property/casualty market as a whole, which has seen large underwriting losses, said Daniel S. Glaser, president of American International Group Inc.'s Global Energy Group in New York. In fact, he remarked, ``you would be hard pressed to find any insurer that has been profitable on a multiline basis'' in the last few years.
The result likely will be some ``real differentiation between pricing for …
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