HARTFORD, Conn., Jan. 13 /PRNewswire/ -- Small insurers retain a sizable share of the overall property-casualty market and strong positions in some specific market niches, according to a new study by Conning Research & Consulting.
"Although some may tend to focus on consolidation news and efficiencies of scale, small insurers as a group continue to maintain a sizeable share of the property-casualty market," said Clint Harris, analyst at Conning Research & Consulting. "As they form and expand to serve unmet needs, small insurers have earned strong positions in some specific markets. Small insurers can pose a significant competitive threat to large insurers because of their ability to build entrenched insurer-client relationships in certain market segments and their ability to develop rapidly in markets with constrained capacity."
The Conning Research study, "Property-Casualty Small Insurers: From Static to Strategic" analyzes the small insurer segment, their strategies for success, and their impact on larger insurer strategies.
"Small insurers lost share in 2002 at the beginning of the past hard market, as large insurers were able to tap additional expansion capital more rapidly," said Stephan Christiansen, director of research at Conning. "Yet as the cycle wore on, capital moved towards insurer formations in perceived underserved markets such as medical professional insurance and Florida homeowners. Capital seeks significant returns, and new insurer formations in the right segment will always be a draw for investors and pose an ongoing challenge for larger insurers."
"Property-Casualty Small Insurers: From Static to Strategic" is available for purchase from Conning Research & Consulting by calling (888) 707-1177 or by visiting the company's web site at www.conningresearch.com.
About Conning Research & Consulting
Conning Research & Consulting is a division of Conning, a provider of asset management and insurance industry research and consulting services to insurers. Conning Research & Consulting has published independent insurance industry research for 50 years, including market coverage of 30 segments of the industry in addition to industry forecasting and identification and analysis of major strategic issues. As a result of its wealth of experience and intimate knowledge of the insurance industry, Conning understands industry challenges and opportunities and provides in-depth analyses on a wide range of industry products and issues. Conning is headquartered in Hartford, CT.
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SOURCE Conning Research & Consulting