Personal Lines State Environment Annual - 2014 Edition
Conning—Personal Lines Insurance State Environments Continue to Change Disparately
--Conning ranks state growth performance for personal lines sales
(Hartford, CT) December 15, 2014—The varied pace and character of the economic recovery have changed the outlook for personal lines insurers at the state level, and insurers may wish to reassess their geographic footprints, according to a new study by Conning.
“As the U.S. economy continues its long recovery from the Great Recession, the outlook for personal lines insurance markets at the state level varies greatly,” said Alan Dobbins, analyst at Conning. “States are still experiencing significantly disparate rates of recovery from the various recessionary impacts. We have developed an analytical framework to allow insurers to benchmark state performance more readily, looking closely at growth, underwriting results, market concentration, demographic and economic data, among other variables.”
The Conning study, “Personal Lines State Environment Annual” analyzes and presents data for each state for the period 2009-2013, including historical performance, growth and performance drivers, and distribution dynamics. Conning utilizes this data to develop a premium growth outlook for each state.
“We build our rankings of state growth expectations by product by reviewing both state premium development over time and demographic and economic data,” said Steve Webersen, director of research at Conning. “Most of the significant changes in state rankings since our last report result from changes in underwriting performance and exposure outlook by state. Insurers can better position themselves for future growth by careful assessment of the state-by-state variations.”
“Personal Lines State Environment Annual” is available for purchase from Conning by calling (888) 707-1177 or by visiting the company’s web site at www.conningresearch.com.
Conning (www.conning.com) is a leading investment management company for the global insurance industry, with almost $92 billion in assets under management as of September 30, 2014 through Conning, Inc., Conning Asset Management Limited, Cathay Conning Asset Management Limited, and Goodwin Capital Advisers, Inc. Conning’s unique combination of asset management, risk and capital management solutions and insurance research helps clients achieve their financial goals through customized business and investment strategies. Founded in 1912, Conning is focused on the future, providing clients with innovative solutions, leveraging its global capabilities, investment experience, and proprietary research. Conning is headquartered in Hartford, Connecticut, with additional offices in New York, London, Cologne, and Hong Kong.