Converium Exec: Global Re Market 'Flattening out'
NU Online News Service, Feb. 19, 4:30 p.m. EST
"A mature market results in prices of certain lines of business going up while others go down," commented Benjamin Gentsch, vice president of specialty lines at the Zug, Switzerland-based reinsurer. ?This is a very typical sign. We have seen a few lines where the rates have gone down substantially."
Converium reported earlier this week that its full-year 2003 net profit rose 73.3 percent to $185.1 million, compared to $106.8 million in 2002. For 2003, Converium said a strong rise in premiums written helped lift its profits.
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