The insurance market has become one of “haves” and “have-nots,” and the former will be in position to enjoy an “excellent next few years,” says William R. Berkley.
The CEO of W.R. Berkley, during a conference call on first-quarter earnings, says well-positioned companies have more sophisticated managers to realize a market environment of low investment yields and less prior-year reserve development will put a lot of pressure on underwriting profitability.
“They have to make it up,” Berkley says. “Nothing I see is going to change that through next year.”
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