Becker: Rates just 10% higher than 1999
Property and casualty rates are just 10 percent higher than the 1999 soft market nadir that eventually inflicted deep losses on the industry, according to Alterra president and CEO Marty Becker.
Speaking at The Insurance Insider's Pre-Monte Carlo Rendez-Vous event in London, Becker said that difficult conditions have been exacerbated by investment yields languishing at a 25-year low.
The Alterra CEO suggested to the industry gathering that the striking parallels with the late 1990s have not been widely realised.
Rates...
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