I am so confused. I thought we were in for a “protracted” hard market with “uncertain litigatory challenges” and overpriced reinsurance premiums. So, the expense ratio went down that much to compensate? Berkeley was talking about forgetting underwriting fundamentals since they were hard to manage and just cash flow your way to investment and interest rate profits.
I am so confused. I thought we were in for a “protracted” hard market with “uncertain litigatory challenges” and overpriced reinsurance premiums. So, the expense ratio went down that much to compensate? Berkeley was talking about forgetting underwriting fundamentals since they were hard to manage and just cash flow your way to investment and interest rate profits.