Is there an $82 billion capital hole in the property-casualty insurance market? If so, who will fill it? Those were some of the troubling questions raised by catastrophe modeler Peter Nakada, managing director of RMS Consulting.
Venturing a bit outside his area of expertise to pull together an estimate that might normally come from a rating agency analyst, and which he admitted was a "back of the envelope" calculation, Mr. Nakada said his conclusion was based on output from the newest catastrophe model used by the Newark, Calif.-based RMS.
"The big elephant in the room is [the question], where is this capital going to come from?" Mr. Nakada said here at a session of the Casualty Actuarial Society Seminar on Reinsurance, a point he repeated last week at the annual Standard & Poor's Insurance Conference.
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
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
