Reinsurers and their customers are meeting on the Mediterranean coast this week to discuss prices and conditions for next year’s property-and-casualty policies.
“It’s very hard to talk about gloom and doom in the insurance industry when you’re sitting in a hotel room in Monte Carlo,” said Simon Burtwell, who leads the U.K. insurance advisory unit at EY. Still, "it has been a more subdued meeting. The industry is concerned as rates are low and we will see yet another year with headcount reductions in the industry."
This article was provided by Bloomberg News.