US Reinsurance Outlook Negative... in 2000
Tuesday, December 21st, 1999 PropertyDespite the prospect for substantive price increases across most lines in 2000, Standard & Poor‘s says the reinsurance industry outlook still is negative. The ratings agency expects the cumulative stress of prior price reductions, contract extensions, and under-reserving to keep earnings at depressed levels for at least the next two years. ``Soft pricing driven by excess capacity within the global reinsurance industry will cause U.S. reinsurers to post the worst underwriting results of the 1990s since the catastrophe loss year of 1992,' says a Standard & Poor‘s outlook on the reinsurance sector. The global ratings service expects myriad events will cause insured property losses to aggregate in excess of $15 billion in 1999.
External References & Further Reading
http://www.propertyandcasualty.com/content/news/article.asp?DocID={57B6F193-B7B5-11D3-9A7C-00A0C9C83AFB}&Bucket=Latest+Headlines
