After a period of great continuity and conformity in the 1990s, the insurance industry has undergone radical changes since the abrupt stock market crash. The cumulative effect of external influences such as globalisation, financial market deregulation, low interest rates, the convergence of banking and insurance, large claims and terrorist attacks has hit insurance hard, catching what was once an exemplary industry unawares.
Many companies have suffered massive losses on financial investments, prompting rating downgrades (and thus impacting the share price) and eroding the confidence of the market. This is likely to accelerate the process of consolidation and encourage more rigid supervision (Solvency l and ll, stress tests), meaning that the industry will have to get accustomed to new, risk-oriented capital requirements. The long-term winners in the struggle for premium volumes and market share will be those insurers that manage to arouse market interest with innovative products and services and market them cost-efficiently at risk-adjusted conditions. Price increases on some primary insurance and reinsurance markets point in this direction.
Atkinson Stuart can draw on a worldwide network of experts, research partners and our own databases to support managements and boards of directors seeking outstandingly successful insurance industry talent. We help you find multicultural, creative doers with a flair for lateral thinking, the ability to recognise and exploit potential for adding value, and expertise in risk and value-based management. Our services are geared to primary insurers and reinsurers worldwide. We help companies fill senior positions in actuarial functions, risk management, product development, underwriting, marketing and distribution, portfolio management, finance and accounting, ALM, legal services, tax, IT, HR, communications and other corporate functions.