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 (5644)	2/18/2002 3:53:46 PM
From: Logain Ablar	Read Replies (2) of 33421

John: I think the underlying reason for setting up the companies in Bermuda is regulatory but tax also has to come into play. I think Swiss & Munich Re are the two largest reinsurers. Both have US presences. I know Swiss Re own Conning & Co. ACE owns the old CIGNA P&C business and XL has NAC re and the old Winterthur P&C business (US). I only comment since its like gold, such a beaten down unloved sector but large premium hikes now. Its like no one can believe it will last. Even Sandy is spinning off his P&C business this year out of Citi. In my opinion P&C is still in trouble but the reinsurance side should do well for the next 2 to 3 years.

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