Reinsurance and other aspects. Solvency Working Party report

Document description

The subject of reinsurance and particularly its solvency aspects is a most appropriate one for study at the present time in view of the generally agreed weakness of the world reinsurance market. This is fairly typically summed up in the following quotation from a recent insurance publication. It is not easy to get the world reinsurance industry to agree on anything. But one point on which mast senior people in the industry are in accord is that sooner or later and quite probably sooner, there is going to be a massive crash in the industry that will wipe out a lot of the newer and smaller names in the reinsurance field and badly hurt some of the larger ones as well. Clearly, if such a crash occurs, it will be more than just reinsurers who are affected.