NU Online News Service, May 7, 2:50 p.m. EDT
NEW YORK–Reinsurers have not been especially disciplined, and they in fact prolonged a soft insurance market that should have ended a year ago, a broker said here yesterday.
George Venuto, executive vice president of Willis Re in Philadelphia, speaking to a group of actuaries during the opening session of the Casualty Actuaries in Reinsurance Seminar in New York, noted that industry chief executive officers regularly speak about the comparative discipline of reinsurers opposed to primary insurers on earnings conference calls.
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