Montpelier Re and Validus could end up with the greatest
proportion of excess capital among the Bermudian reinsurers if the
2012 hurricane season finishes as benignly as it began, according
to Keefe, Bruyette & Woods (KBW) analyst Cliff Gallant.
The analyst said that several of the major P&C underwriters could be well positioned to return capital to shareholders by the end of the year.
Gallant's calculation of excess capital relied on the simple assumption that the (re)insurers would target capital...
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