Tillinghast: More Consolidation in 2004
Thursday, December 11th, 2003 Risk ManagementThe insurance industry is at a critical juncture, with issues surrounding consolidation, pricing, legislative reforms and capital concerns shaping the market for 2004, according to year-end industry predictions from Tillinghast-Towers Perrin. "The poor economic environment, stock market volatility and credit losses of the past few years have taken their toll on the insurance industry, with some of the weaker players dropping out, said Patricia Guinn, managing director of Tillinghast and Reinsurance. "Following a period of always being in reactive mode in an environment that no one expected, we may now be at a turning point where companies have learned how to better navigate in uncertain conditions. A tier of stronger players have emerged that are now ready to focus on growth strategies."
