Conning -- Many Paths to Success for Personal Lines Insurers

-- Specialization a key determinant of success

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Dec 09, 2015, 08:45 ET

HARTFORD, Conn., Dec. 9, 2015 /PRNewswire/ -- Those personal lines insurers that have achieved success in the volatile past decade have generally pursued strategies founded on specialization, whether in product, customer segment, or regional focus, according to a new study by Conning, Inc.

"Conning analyzed personal lines insurer performance, and identified a number of companies that led the industry in growth and profitability over both the ten-year period and the most recent five-year period," said Alan Dobbins, Director, Insurance Research at Conning, Inc. "As we analyzed these personal lines insurer results it becomes clear that, regardless of the significant market share advantage of large companies, size by itself does not appear to translate into a key differentiator for success. However, more than half of the members of the successful group have clearly identifiable product or customer segment specialties, while others have a regional specialization, sometimes in addition to a product niche."

The Conning study, "Growth and Profit Leaders in Personal Lines Insurance: No Single Path to Success" identifies the leading personal lines insurers over the past ten years, and analyzes the common characteristics among the group.

"In our analysis we were struck by the diversity of strategies among the growth and profit leaders in personal lines in the period, as well as by the number of small and midsized companies that made the list," said Steve Webersen, Head of Insurance Research at Conning, Inc. "There were both auto and home insurance specialists, many distribution channels represented, and some leading insurers led in lower loss ratios, while others in expense. We discovered interesting patterns in the personal lines insurers that consistently gained share profitably, related to their strategic specialization and superior execution."

"Growth and Profit Leaders in Personal Lines Insurance: No Single Path to Success" is available for purchase from Conning by calling (888) 707-1177 or by visiting the company's web site at www.conningresearch.com.

About Conning^®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 October 31, 2015, through Conning, Inc., Conning Asset Management Limited, Cathay Conning Asset Management Limited, Goodwin Capital Advisers, Inc., and Conning Investment Products, Inc. that are all direct or indirect subsidiaries of Conning Holdings Limited ("Conning") which is one of the family of companies owned by Cathay Financial Holding Co., Ltd., a Taiwan-based company. The company'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 provides clients with innovative solutions, leveraging its global capabilities, investment experience, proprietary research and risk management technology. Headquartered in Hartford, Connecticut, Conning also delivers its services globally through its offices in New York, London, Cologne, Hong Kong, and Tokyo.