Stephen Irwin

As part of the First Monday series, A.M. Best’s Vice President Stephen Irwin discusses the rating agency’s rationale for a “Stable” outlook for the Life/Annuity sector.

According to Mr. Irwin, the “Stable” outlook is due to “a number of positive signs including the improving U.S. economy, relatively low inflation, improving employment picture…(and)  very low credit impairments, which is a positive to reported net income.  That’s led to consistency in both statuary and GAP reporting incomes.”  Mr. Irwin also mentioned the improving stock market and expense control, as well as the use of risk management strategies to de-risk products as contributing, positive factors.

Mr. Irwin notes some challenges for the Life Insurance industry, including the low interest rate environment, expense reduction, and the use of technology to reach the next generation of customers.

We’d like to thank A.M. Best for their contribution to our program.  If you’d like to see more of the First Monday Series, visit the A.M. Best website.

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