Last year was a wonderful year for property and casualty insurance and companies are looking to overcome any hurdles the new year may bring. Expectations are that interest rates will begin to rise in 2014 giving carriers more investment income. A panel of insurance company CEOs see 2014 as similar to 2013 in terms of profitability. The market is not soft, but not hard as company executives are cautiously optimistic on economic growth.
Overall, the industry is positioning itself to take on bigger risks. Economic momentum will drive more growth and activity towards the property segment, while not so much to casualty. Throughout the night, there was a lot of talk about Google and technology driving changes in the industry over the next few years.