Future regulation and customer demand forces increase
Many insurance companies plan to build bigger financial buffers over the next year, according to a survey by the Economist Intelligence Unit on behalf of auditing firm KPMG, the FT reports.
The survey found:
- 85% of 315 insurance executives polled said their own companies were well-capitalised
- Most also thought the industry as a whole had sufficient capital reserves
- 56% said they needed to bolster capital reserves over the next 12 months
- Regulation was the biggest driver of capital requirements, then customer demands
- Half respondents from non-life, 9% from reinsurers
- Roughly one-third Europe, Asia and US.
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