Atlas Magazine April 2012

The insurance great projects

Insurers may push a sigh of relief as the 2011 accounts are being finalized. The past year has not been a big success but the worst has been averted.

Despite an exceptional loss experience due to outstanding natural catastrophes, combined with a slow down and even a decrease in premiums collection, the system is still standing and no drastic bankruptcy has been reported. This resilience is accounted for, among other reasons, by the due risk transfers between insurers and reinsurers but most importantly by the reinsures’ good capitalization.

What is next? The year 2012 looks rather promising with first quarter figures in clear improvement in comparison with those exhibited a year ago. Even though it is too early to make any judgment, we can say the trend is positive.

Prudence is wise as trouble is still looming ahead.

Initiated since a few months, a debate has addressed the way of readopting a healthier approach to business. Gradually, insurance large projects started to take shape. They are called: risk management, equity funds’ consolidation, investment in new technologies, training, business ethics, good governance.

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