Excess capital in the reinsurance market is seeking out opportunities to back managing general underwriters (MGUs) in the buoyant surplus lines sector, according to Ryan Specialty Group (RSG) supremo Pat Ryan.
Speaking at Advisen's management liability insights conference in New York this afternoon (20 September), the former Aon founding chairman said reinsurers' support for MGUs would help fuel innovation.
It would also enable specialty underwriting facilities to build larger blocks of capacity to write more challenging risks.
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