New Capacity--$20 Billion Worth--Poured Into P/C In Past Few Years, But Window Seen Closing.

• Date: 14 January 2019

PHOENIX. Ariz. -- Almost $20 billion in new capacity has been raised for the property/casualty industry during the past three to four years, but the "financing window" may be closing soon, panelist told the Casualty Actuarial Society annual meeting.

Michael Morrisey, chairman and chief executive officer. The Firemark Group, observed that the industry has been able to attract new capital in spite of the poor underwriting results and natural catastrophes of recent years.

He reported that initial public offerings (IPOS) by property/casualty insurance companies had raised 57.9 billion between 1988 and November 1993, surging from a standing start only a few year, ago and more IPO, are planned in coming months. In addition to IPOs $11.8 billion in non-IPO capital was raised during approximately the same period.

"The IPO window open, and closes." he said, "This phenomenon is probably slowing down or coming to an end." said Morrisey.

He also observed that during an IPO...