Conning Research: Ocean Marine Insurance Responds to Structural and Cyclical
Challenges
--Traditions face off against technology and scale both may be needed to
succeed
HARTFORD, Conn., Oct. 26 /PRNewswire/ -- The U.S. Ocean Marine insurance
industry has been hard hit by the economic crisis at a time when its
structure, traditions and culture are facing challenges, according to a new
study by Conning Research and Consulting.
"The Ocean Marine industry has deep foundations of tradition and
specialization that give it unique status relative to other insurance
segments. Over the past five years, the experienced specialist ocean marine
writers have clearly outperformed the rest of the market," said Jerry
Theodorou, analyst at Conning Research & Consulting. "But some larger
companies have also outperformed by combining a specialist orientation with
the resources of a larger carrier."
The Conning Research study, "Ocean Marine Insurance: Entering New Waters"
analyzes the performance of the industry and presents the structural and
cyclical challenges to the market.
"The dramatic downturn in global trade in 2009 has jolted the Ocean Marine
market at a time when it was struggling to sort out a number of challenges,"
said Stephan Christiansen, director of research at Conning. "Structural
changes in available capacity, market consolidation, and changes in capital
flows may require new approaches to sustain the business in today's
marketplace. Our analysis points to the need to combine experience and
specialization with greater scale and modern technical capabilities to
navigate this new marketplace."
"Ocean Marine Insurance: Entering New Waters" 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 provides insurance industry analysis to insurers
and industry stakeholders. Its published research includes 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. The Conning name has
represented excellence in independent insurance industry research for 50
years. Conning Research & Consulting is a division of Conning, a provider of
asset management and insurance industry research and consulting services to
insurers. Conning is headquartered in Hartford, CT.
Contact: Anne Steinberg
Kitchen Public Relations, LLC
+1-212-687-8999
anne@kitchenpr.com
SOURCE Conning Research & Consulting
Anne Steinberg, Kitchen Public Relations, LLC, +1-212-687-8999,
anne@kitchenpr.com
