working in the industry i sorta get it. The guys at the insurance companies are bleeding.
there have been ALOT of lay-offs, hiring freezes, etc. etc. at most of the majors.
one of the top 2 laid of 250 executives in 2009, on a single day… i have a meeting with one of them on Thursday actually.
don’t forget, insurance companies are primarily financial companies and they all took a shit on the international market in the last 24 months… some worse than others.
Heck, ING, the number one insurer in canada, divested from it’s Canadian arm and it became a whole new company (Intact). You may be seeing the ads out there. This is also Bel-Air Direct btw.
So yeah, the insurers definately are bleeding… i know that some of the top 10 had their worst Q1 and Q2 ever this year… heads rolled.