NU Online News Service, Jan. 13, 2:53 p.m. EST
The reinsurance industry his past year weathered near-record catastrophe losses, catastrophe-model changes and the pressures of a challenging macroeconomic environment, but unlike 2005, reinsurers were prepared in 2011, according to a report by Guy Carpenter.
Despite challenging conditions, the reinsurance sector remains fully functional and adequately capitalized, Alex Moczarski, president & chief executive officer of Guy Carpenter notes in his foreword to the global reinsurance intermediary's Jan. 2012 Reinsurance Renewal Report.
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