In this A.M.BestTV episode from the recent Property/Casualty Insurance Joint Industry Forum, held in New York, NY, the new Chairman and Chief Executive Officer at The Hartford Financial Services Inc. (The Hartford) Christopher J. Swift, discusses the regulatory challenges he sees the U.S. insurance industry facing.
“A lot of debate is going on regarding solvency for the industry and whether it is global or national setting capital standards that the rest of the industry might be forced to adapt to are something The Hartford takes very seriously,” said Swift. “The Hartford looks at two sides that need to be together, product and solvency, and is concerned that solvency is being bifurcated to others, globally and nationally, leaving the question what does this mean for state regulatory activities,” continued Swift.
Looking ahead, Swift sees 2015 as being positive, providing more opportunities to grow revenue and expand the national economy. Swift also said he believes that restructuring and transformation activities at The Hartford are done and his company is focusing on becoming a deeper risk player.
Click here to view the entire video program: http://www.ambest.com/v.asp?v=swift115.
Recent episodes of A.M.BestTV include:
- A.M. Best’s Matt Mosher: Range of Pressures Shaping Property/Casualty Industry: Matt Mosher, senior vice president at A.M. Best, reviews the outlooks for various industry sectors at the Property/Casualty Insurance Joint Forum and said heightened pressures from competitors, capital provider and customers are driving how companies compete and acquire in the current insurance environment: http://www.ambest.com/v.asp?v=mosher115.
- Insurers Turn Spotlight on Risk Innovation: Insurers are becoming more focused on identifying uncovered risks and turning them into coverage, according to the cover articles in the January edition of Best’s Review:http://www.ambest.com/v.asp?v=innovate115.
- New List of World's Largest Insurers Reveals Change: A.M. Best data shows that Axa S.A. is now the world's largest insurer, based on 2013 total non-banking assets and net premiums written (NPW), and that three U.S.-based health insurers are now among the top 10 of the largest insurers by 2013 NPW: http://www.ambest.com/v.asp?v=largest115.
A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View A.M.BestTV episodes at http://www.ambest.tv.
A.M. Best Company is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.
Copyright © 2015 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.
