LONDON (Bloomberg) — Insurance executives expect the industry to grow during the next 12 months and remain concerned over the impact of the financial crisis, KPMG International said, citing a survey.

Fifty-five percent of managers in the insurance industry expect improving organic growth and 53 percent anticipate more acquisitions during the next year, the accounting firm said in an e-mailed statement yesterday, citing a worldwide survey of 315 industry executives in March and April.

"The insurance industry has not been so deeply affected by the current economic conditions and so executives are perhaps more optimistic than those in other financial-services sectors," Frank Ellenbuerger, head of KPMG's global insurance practice and a partner at the German firm, said in the statement. "Executives do still foresee a continuing lack of confidence in the capital markets as stifling to their recovery."

Insurers' earnings are suffering worldwide as the financial crisis roils capital markets, saps demand for policies linked to stock markets and cuts the value of investments. The industry has written down almost $243 billion on investment losses related to the financial crisis since it began in 2007.