John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: John Pitera who wrote (5594)	2/13/2002 3:57:29 PM
From: Logain Ablar	Read Replies (3) of 33421

John: Did you notice Warren Buffets comments on General Re last week in the WSJ regarding its underwriting losses. For the last 4 to 5 years the reinsurers (the majority, not just gen re) have been over capitalized with premium rates dropping and companies taking on business they should have turned away. All that has changed since 9/11/01. The reinsurers have higher costs (ene fallout as well) but the survivors have been obtaining capital and rates have jumped 30+ % and they will increase again next year. Just a sector to look @. Even if we have a major recession the survivors will do well. The risk is another CAT (more in the range of a hurricane or earthquake) or the asbestos litigation type issues. Tim

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