Many insurance industry executives are still expecting the economy to improve.
Analysts in the New York office of KPMG L.L.P., New York, have reported that finding in a summary of results from a survey of 100 high-level U.S. insurance company executives that was conducted in June.
Only 15% said they expect to see a full economic recovery by June 2012, but 57% said they expect economic conditions to improve in the coming year, and 44% said their companies are hiring.
Half said revenue is higher than it was in 2010, and 70% are counting on revenue to rise in 2012.
About 70% of the executives said their companies have plenty of cash, and 54% said they expect their companies to make acquisitions in the next two years.