Third-party capital effect on reinsurers exaggerated: Catlin chief

Stephen Catlin, CEO of Bermuda's Catlin Group Ltd., said that the effect of the rapid inflow of third-party capital on conventional reinsurers has been exaggerated, The Royal Gazette reported.

Mr. Catlin said reinsurers need not worry about the changes in the reinsurance industry.

Reinsurance rates have decreased in recent years as insurance-linked securities such as catastrophe bonds prompt competition in the sector, Mr. Catlin said.

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