National
Under writer
RISK MANAgERS:
BACK TO SChOOL
Continuing-ed options for
RMs looking for new business
skills to help them advance
corporate strategy
Page 12
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KBW’s Q3 Earnings Forecast:
‘Better Than Feared,’ But
Concerns Remain
Rate increases may have outpaced loss
trends in the third quarter, but the benefits
to carriers may be offset by reserve
pressures and the “slow-motion collapse”
of investment income, says Keefe, Bruyette
& Woods. E Page 6
plumeri Stepping Down as
Willis CEO
Joe Plumeri, who returned Willis Group
to public ownership and substantially
expanded its market cap, is stepping down
as chairman and CEO of the world’s third-
largest brokerage. E Page 6
Fitch: Regionals Lag Behind
Other Insurers
A Fitch Ratings performance review of the
last decade shows regionals lagging behind
other types of insurers in two key metrics:
average net income return on equity and
compound annual growth rate in book
value per share. E Page 8
NApSLO 2012 Coverage
Top Excess & Surplus-lines executives
speak out from the convention floor in
Atlanta, and NAPSLO board members
weigh in on the biggest challenges in E&S
over the next 12 months. EPage 20
REINSuRANCE
ROuNDup
Munich Re says pricing
must evolve; tornado
losses drive demand for
aggregate protections
Page 25
