ALIRTAdvanced Leading Indicator Recognition Technology (US Defense Advanced Research Projects Agency)
ALIRTAlabama Library Instruction Round Table
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About 15 percent of the 248 public exchange plan issuers ALIRT analyzed have four or fewer years of operating history.
Although the report did not specify what "gentle" meant, David Paul, principal at ALIRT, said that premium increases in 2013 would probably be in the low-to mid-single-digit range.
9 percent on an annualized basis) during the first half of 2014 for the ALIRT Life Industry Composite.
Related: Overall, 2014 was a pretty good year for the P&C industry, says ALIRT report]
ALIRT hypothesizes that the cycle is different this time, for the following five reasons.
ALIRT proposes the reason may be the amount of capital insurers are generating.
Additionally, surplus growth remained solid--although not quite as strong as 2012--among the insurers ALIRT follows.
ALIRT reports this is the best result since the first quarter of 2007, when sizeable reserve releases from the previous hard-market cycle were benefitting results.
The year's reported results continued to benefit from reserve releases, which were down from 2011 levels, but remained substantial, according to ALIRT.
A market that experiences gentle premium increases may be the best outcome for all stakeholders as carriers' financial stability is sustained, capacity/coverage remains plentiful, and buyers do not face painful Cysticker shock' at renewal," says ALIRT.
The ultimate direction, ALIRT says, is in the hands of the companies and brokers.
But the industry continues to derive most of its pretax net income through investment gains rather than underwriting results, and those investment gains are pressured by the low-interest-rate environment, ALIRT says.