Workers expect their defined contribution plans to play a greater role in their retirement income than annuities.
ATLANTA, Jan. 9, 2013 /PRNewswire/ --Life insurance executives surveyed by LOMA for its 2013 Forecast are cautiously optimistic about sales this year, with several expecting a modest growth of around 3 percent. However, the executives say low interest rates are a concern.
"In terms of profitability, the industry will continue to be challenged by the low interest rate environment, as compressed margins will continue to present challenges and put pressure on earnings," said one senior executive.
The executives gave their views on other issues, such as technology, customer service and structural change:
The 2013 Life Insurance Forecast is published in the January issue of LOMA's Resource magazine. The compete Forecast may be read on the Resource page of the LOMA web site, http://www.loma.org/research/resource.aspx
Established in 1924, with 1,200 plus member companies in over 80 countries, LOMA is committed to a business partnership with its world-wide members in the insurance and financial services industry to improve their management and operations through quality employee development, research, information sharing, and related products and services. To find out more about LOMA and the learning opportunities it offers, visit LOMA's Web site at www.loma.org