Catlin sees changes on horizon as cat rates rise
Catlin CEO Stephen Catlin predicts that "fundamental
changes" are occurring for P&C (re)insurers as the market
reacts to catastrophe losses, falling rates and the challenging
investment environment.
The London-listed (re)insurer recouped more than $50mn from its retrocessionaires under an aggregate reinsurance policy, after taking another $136mn in catastrophe losses during the third quarter.
The losses came from both deterioration on earlier cats and recent events such as the Danish and Thai floods and Hurricane Irene.
Catlin said he expected rates...
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