金融英语阅读:Growingdominanceofbanks
文章来源: 文章作者: 发布时间:2008-04-07 08:09 字体: [ ]  进入论坛
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"Growing dominance of banks" in commercial insurance

  One can see the “growing dominance of banks” when it comes to the distribution of property and casualty (P&C) commercial insurance, observes John Wepler, president of MarshBerry (Concord, OH). Twenty-five of the top 100 U.S. insurance brokers2 (excluding Aon and Marsh1 McClennan) are now bank owned. And while this movement is likely to continue, bank executives have to be mindful of overall industry trends, he noted3 at the annual convention of the Bank Insurance & Securities Association (BISA) this week in Florida.

  This is a soft P&C insurance market. Premium4 growth rates have been lagging since 2002, with the notable exception of storm-ravaged coastal5 areas. Industry-wide, P&C premium growth has fallen in the last year from 3.6 percent to about 2 percent.

  “The premium tide is no longer rising,” says Wepler, and bank agencies are no longer looking at double-digit annual revenue growth, but more on the order of 6, 7, or 8 percent.

  Recently, public brokers replaced banks as the top acquirers of agencies. This is more from lack of supply than from lack of demand, notes Wepler. Brokers have raised their offers compared with past years (unlike back in 1999, say, when they figured banks were over-paying and would fail in the insurance area) and have been “lightning quick” in getting deals done, often in 20-30 days, a time frame that most banks—which tend to be more deliberative——have difficulty matching. The public brokers have “outrun banks,” says Wepler.

  There is more interest among banks in acquiring 'benefits' firms, which have generally higher profits margins6 than commercial lines insurance firms—31 percent versus7 22 percent. And products like group health are generally less cyclical and often have good cross-selling potential compared with other insurance products. But, again, these firms are not always easy to find in the current market.

  Therefore banks will need to concentrate more on organic growth, in particular integrating insurance with other parts of the institution, suggests Wepler.

  The integration8 process will be long-term, requiring some five to ten years. Banks will need to be patient, much as they were with annuities9. But insurance is a product that every commercial client has to have, and eventually “banks will dominate the commercial insurance distribution system,” says Wepler.



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1 marsh Y7Rzo     
n.沼泽,湿地
参考例句:
  • There are a lot of frogs in the marsh.沼泽里有许多青蛙。
  • I made my way slowly out of the marsh.我缓慢地走出这片沼泽地。
2 brokers 75d889d756f7fbea24ad402e01a65b20     
n.(股票、外币等)经纪人( broker的名词复数 );中间人;代理商;(订合同的)中人v.做掮客(或中人等)( broker的第三人称单数 );作为权力经纪人进行谈判;以中间人等身份安排…
参考例句:
  • The firm in question was Alsbery & Co., whiskey brokers. 那家公司叫阿尔斯伯里公司,经销威士忌。 来自英汉文学 - 嘉莉妹妹
  • From time to time a telephone would ring in the brokers' offices. 那两排经纪人房间里不时响着叮令的电话。 来自子夜部分
3 noted 5n4zXc     
adj.著名的,知名的
参考例句:
  • The local hotel is noted for its good table.当地的那家酒店以餐食精美而著称。
  • Jim is noted for arriving late for work.吉姆上班迟到出了名。
4 premium EPSxX     
n.加付款;赠品;adj.高级的;售价高的
参考例句:
  • You have to pay a premium for express delivery.寄快递你得付额外费用。
  • Fresh water was at a premium after the reservoir was contaminated.在水库被污染之后,清水便因稀而贵了。
5 coastal WWiyh     
adj.海岸的,沿海的,沿岸的
参考例句:
  • The ocean waves are slowly eating away the coastal rocks.大海的波浪慢慢地侵蚀着岸边的岩石。
  • This country will fortify the coastal areas.该国将加强沿海地区的防御。
6 margins 18cef75be8bf936fbf6be827537c8585     
边( margin的名词复数 ); 利润; 页边空白; 差数
参考例句:
  • They have always had to make do with relatively small profit margins. 他们不得不经常设法应付较少的利润额。
  • To create more space between the navigation items, add left and right margins to the links. 在每个项目间留更多的空隙,加左或者右的margins来定义链接。
7 versus wi7wU     
prep.以…为对手,对;与…相比之下
参考例句:
  • The big match tonight is England versus Spain.今晚的大赛是英格兰对西班牙。
  • The most exciting game was Harvard versus Yale.最富紧张刺激的球赛是哈佛队对耶鲁队。
8 integration G5Pxk     
n.一体化,联合,结合
参考例句:
  • We are working to bring about closer political integration in the EU.我们正在努力实现欧盟內部更加紧密的政治一体化。
  • This was the greatest event in the annals of European integration.这是欧洲统一史上最重大的事件。
9 annuities 334adc1039d91740ffab60ad8c097f64     
n.养老金;年金( annuity的名词复数 );(每年的)养老金;年金保险;年金保险投资
参考例句:
  • Many companies in this country grant their old employees annuities after they retire. 这个国家的许多公司在老年雇员退休后发给他们养老年金。 来自辞典例句
  • Can I interest you in one of our Easter Annuities or IRA accounts? 您对我们的复活节年金保险或者个人退休金帐户有兴趣吗? 来自电影对白
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