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Article Excerpt
Byline: JUDY GREENWALD
This year's January reinsurance renewal period has been relatively smooth in contrast to just a year ago, observers say.
"Boring is the word that actually comes to mind,'' said John Ehinger, president and chief operating officer of Willis Re Inc. in Philadelphia, "at least in comparison to what we've seen in the recent past. I think things are much more stable than they've been.''
"Very orderly,'' is how Patrick J. Denzer, president and chief executive officer of Minneapolis-based John B. Collins Associates Inc., described January renewals.
"I think there's a lot less uncertainty this year'' than last year at this time when the industry was dealing with 2005 storm losses, impending changes in catastrophe models and the expectation of additional rating agency capital requirements. At midyear 2006, there was "substantial dislocation between supply and demand'' in reaction to the storm losses, said Mr. Denzer.
"I don't see any major problems really,'' said Steven M. McElhiney,...
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