twacowfca Posted December 24, 2009 Share Posted December 24, 2009 Aon Benfield (Dec 24 09) reports reinsurers aggregate CR for first 9 mos 09 was 91.2%. Reserve releases added an additional 3.2% to results. ( This info is from a private service so no link available. Sorry) This info is now public. Link is www.webnewswire.com/node/492347 Link to comment Share on other sites More sharing options...
Crip1 Posted December 25, 2009 Share Posted December 25, 2009 This would not bode well for market hardening in 2010. -Crip Link to comment Share on other sites More sharing options...
Mikenhe Posted December 25, 2009 Share Posted December 25, 2009 This would not bode well for market hardening in 2010. -Crip it bodes very well for companies who typically reserve high and reduce to more accurate levels later.. like FFH... Link to comment Share on other sites More sharing options...
twacowfca Posted December 25, 2009 Author Share Posted December 25, 2009 This would not bode well for market hardening in 2010. -Crip Interest rates are low now, and it's not rational to pay much for float to invest in a low return environment. Reinsurers know they lucked out with no supercats in 09. Some have announced big share buybacks. Axis in particular has had a history of using retained earnings to expand their business, but even they have announced a large share repurchase. Reinsurers don't have large staffs or agents they are obligated to keep employed and are structurally better able to adjust to less demand by writing less business than primary insurers. Link to comment Share on other sites More sharing options...
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