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Member, Beacon International Group, Ltd.
A.M. Best Co. Inc. foresees a "new reality" for the global reinsurance market, reports Artemis.bm.
The reinsurance market may become more of "an industry where returns are less impressive and underwriting will have to become a larger contributor to profits and returns," said the rating agency. This will result in reinsurers adopting an approach of "more conservative risk selection, more diversification of product offerings, a wider geographic reach and conservative loss picks," added A.M. Best.