Reinsurance executives who attended a recent New York forum were not holding out much hope that their industry's current price softening cycle will end without too much financial pain, Standard & Poor's said.
S&P also reported that participants at its reinsurance forum said that even though softening prices have not yet begun to hit reinsurer bottom lines, management teams said they are already looking at how they can protect future earnings in a cycle that could turn out far different from all prior cycles.
The rating firm said Joseph Brandon, chairman of General Re, is not optimistic on the possibility of a soft landing to the current cycle.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.