"How to do better in 2013?", that is the question that arises when an insurer makes an initial assessment of 2012, which usually starts with a summary statement of the premiums collected and the claims incurred.
In a competitive environment marked by the economic crisis and a growth slowdown, the 2012 premiums have witnessed a low development worldwide.
Regarding loss experience, apart from cyclone Sandy, insurers have been spared, with no major incident being reported. Likewise for marine and technical risks.
In fact, while 2012 has been characterized as an "ordinary year", 2013 will be the year of transition. The crisis will not end before 2014. Meanwhile, companies are reorganizing and large groups are reshaping their strategies, with combined ratio improvement and shareholder’s equity build-up being the concern.
Geographically, a new reshuffle, taking place in small steps, begins. While Europe and America are stagnating, Asia is invaded and soon saturated and the Middle East remains under political uncertainty, it is Africa that stands as the last eldorado of borderless insurance. As far as this continent is concerned, the International Monetary Fund forecasts a growth rate of over 5% in the coming years. With a few exceptions, a lot can be done there and return on equity is guaranteed for those who dare.