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Member, Beacon International Group, Ltd.
The European Insurance and Occupational Pensions Authority has warned that pressure on profits is increasing in the reinsurance market as excess capacity, declining demand and "non-abating alternative capital" reduce underwriting margins, Artemis.bm reports. "The combination of the continuing capital-inflow into the reinsurance market, benign catastrophe activity and increasingly low investment returns due to the ongoing challenging economic environment increases the profitability pressure in the reinsurance business," EIOPA said.