‘Convergence’ products here to stay

Products will have critical impact on competitiveness of insurers and reinsurers

The use of ‘convergence’ products by insurers and reinsurers will play a critical part in the competitive landscape of the property-casualty industry in coming years despite being a relatively small part of the market at the moment, according to a new study by the Hartford, Connecticut based, financial services research group, Conning Research and Consulting. Convergence products provide both insurance (risk management) and capital management elements.