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7th December 2011

US life industry faces challenges says report

In 2012, the US life and annuity insurance industry will be challenged to find ways to manage both capital and risk in an economically and politically uncertain year, while continuing to lay the groundwork for future growth, according to Ernst & Young's new Global Insurance Center US Outlook.
"Pressures such as low interest rates, volatile equities markets, and a political and regulatory environment in flux will continue to impact the industry, making it difficult for insurers to boost earnings," according to Doug French, Financial Services and Insurance and Actuarial Advisory Services Leader at Ernst & Young (US). "In spite of the current environment, insurers should take advantage of opportunities to drive efficiencies through greater use of customer analytics and leveraging technology to develop stronger ties to clients."