Low level of catastrophes, reserve releases mask weak reinsurance market conditions: S&P

Standard & Poor's Corp. has said that the benign catastrophe loss environment and reserve releases are masking weak business conditions in the reinsurance industry, reported Artemis.bm.

The rating agency said that the weak business conditions will continue in 2016. "Prices are likely to continue to soften through 2016 and beyond, and investment returns will offer no solace," and "therefore, normalized earnings will continue to deteriorate," said S&P.

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