Quote of the Day – reinsurance renewals

Brian Boornazian, Aspen Re chief executive:

What actually happened on Jan. 1 is that we saw a market hardening in certain lines, but not a ‘classic’ hard market. The signs all point to an industry awareness that the risk being assumed needs more rate to produce adequate returns. The insurance and reinsurance markets are starting to accept the need for change. But, so far, only cat-exposed and loss-affected contracts are experiencing any significant improvement to rates.

A nice roundup here.

Tagged ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: