Lagging Reserve Effects, Changing Buyer Demands Challenge Reinsurers
The property-casualty reinsurance sector has made quite a comeback in the past year, but theres no time to stop and smell the roses for these reinsurers stuck in a fast-changing marketplace, reinsurance company executives say.
While the combined results of U.S. p-c reinsurers, as reported by the Reinsurance Association of America last month, swung back to profit during the first nine months of 2003 compared to one year earlier–and their combined ratio improved some 15 points to get around the break-even 100 point–reinsurance executives in the trenches are the first ones to acknowledge that their companies must overcome any number of challenges in 2004 to succeed and thrive.
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