SEATTLE–The chief executive of a major reinsurer said yesterday he believes that insurers will deal with the current soft market without making the same mistakes they did in the late 1990′s.
James H. Veghte, chief executive officer, reinsurance general operations at XLRE, made his comments in an interview here where he and other reinsurers are gathered to do business with insurers attending the Property Casualty Insurers Association of America's annual conference.
Mr. Veghte ticked off a number of market forces that he said are in place, which should keep insurers from taking on bad risks at bad prices as they did at the end of the last century.
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