ROE-challenged P&C insurers need to ask, "What can change?" : five action steps to consider

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<rdf:Description>
<dc:creator>Staudt, Andy</dc:creator>
<dc:date>2014-10-30</dc:date>
<dc:description xml:lang="es">Sumario: Although pure underwriting returns were beginning to turn in 2013, over the last six years, the aftertax ROE of European insurers has averaged around 7.5%, approximately 1.5% below the 9.0% all- ndustry average and just slightly above returns associated with still-depressed industries, including media, construction and real estate.This lag in returns is far from a recent phenomenon, with European P&C insurance returns consistently underperforming the European all-industry average for the last 10-plus years. Further, based on a forthcoming study of European merger and acquisition activity conducted by Towers Watson with Mergermarket, it is also interesting that this 7.5% figure is far short of the 9.5% ROE required by insurance investors (Figure 1). Further, over the last year, investors appear to have revised their expectations downward for insurance returns by nearly 2%, potentially reflecting these continued depressed returns. If we extrapolate the above and consider the direct relationship between price-to-book value and ROE, it is easy to understand why European insurance stocks in aggregate are currently trading at multiples approximately 20% below market averages</dc:description>
<dc:identifier>https://documentacion.fundacionmapfre.org/documentacion/publico/es/bib/149609.do</dc:identifier>
<dc:language>spa</dc:language>
<dc:rights xml:lang="es">InC - http://rightsstatements.org/vocab/InC/1.0/</dc:rights>
<dc:subject xml:lang="es">Seguro de daños patrimoniales</dc:subject>
<dc:subject xml:lang="es">Inversiones</dc:subject>
<dc:subject xml:lang="es">Rendimiento</dc:subject>
<dc:subject xml:lang="es">ROE</dc:subject>
<dc:subject xml:lang="es">Rentabilidad</dc:subject>
<dc:subject xml:lang="es">Recursos propios</dc:subject>
<dc:subject xml:lang="es">Empresas de seguros</dc:subject>
<dc:subject xml:lang="es">Europa</dc:subject>
<dc:type xml:lang="es">Artículos y capítulos</dc:type>
<dc:title xml:lang="es">ROE-challenged P&C insurers need to ask, "What can change?" : five action steps to consider</dc:title>
<dc:relation xml:lang="es">En: Emphasis. - New York : Towers Watson, 1987-. - 30/10/2014 Número 3 - 2014 , p. 7-10</dc:relation>
<dc:coverage xml:lang="es">Europa</dc:coverage>
</rdf:Description>
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