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International

Competition makes profitable growth in insurance, reinsurance difficult to achieve: Arch chief

May 29, 2015 Reprints

Dinos Iordanou, chief executive of Bermuda-based Arch Capital Group Ltd., has said that competitive conditions in the insurance and reinsurance market are making "profitable growth in our traditional lines of insurance and reinsurance difficult to achieve," reported Artemis.bm.

"Competitive conditions in the property sector have negatively affected primary property rates and accordingly our U.S. premium volumes in those lines," said Mr. Iordanou. These conditions have led Arch to reduce its reinsurance underwriting by 6%, added Mr. Iordanou.

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Competition makes profitable growth in insurance, reinsurance difficult to achieve: Arch chief

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