World Insurance Report
Reserving
Mr Watson said the industry had recognised the need to reserve for the 1997, 1998 and 1999 years. ‘So far no one is talking
about 2000, which saw a very meagre price increase and very little contraction of capacity. The fact of the matter is that
the reinsurance industry is going to have to recognise the unprofitable book for 2000 as well.