The continuing influx of third party capital into the reinsurance market is a major benefit for mutual insurers, Willis Re executive vice president Robin Swindell has said
He said an abundance of capacity had created favourable reinsurance buying conditions for mutuals.
'The cost of property catastrophe reinsurance is falling, and well-managed renewal negotiations have the potential to make this an immediate and easily quantifiable benefit,' Swindell said.
'Increasing competition amongst reinsurers also provides incentives for them to be more flexible about contract conditions.'
The wider and ever-increasing range of reinsurance providers available gave wider choice to mutuals, he noted.
Swindell's comments can be read in full on the WillisWire blog.