The reinsurance industry this past year weathered near-record catastrophe losses, catastrophe-model changes and the pressures of a challenging macroeconomic environment—but unlike 2005, reinsurers were prepared in 2011, according to a report by Guy Carpenter.
Despite challenging conditions, the reinsurance sector remains fully functional and adequately capitalized, Alex Moczarski, Guy Carpenter's president & CEO, notes in his foreword to the global-reinsurance intermediary's Jan. 2012 Reinsurance Renewal Report.
Moczarski notes that reinsurers' performance in the year is a testament to the resiliency of the market, clients' ability to differentiate themselves, and the ability of clients and brokers to match clients' needs with the right reinsurer.
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