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Premium size increasingly important: Thiele
14 June 2010
In the midst financial uncertainty reinsurance companies tend to want to bulk up terms of capital in order to reduce the risk to shareholders and clients, according to Patrick Thiele, president and CEO of PartnerRe who was justifying his firm’s acquisition of Paris Re at an S&P conference.
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In the midst financial uncertainty reinsurance companies tend to want to bulk up terms of capital in order to reduce the risk to shareholders and clients, according to Patrick Thiele, president and CEO of PartnerRe who was justifying his firm’s acquisition of Paris Re at Standard and Poor’s Balancing Growth & Risk conference in New York last week.
However, Thiele went on to say that if the M&A pattern continues within the industry, it will become less about capital demand, and more about premium.
“It is much easier and frankly much safer and less risky to run a larger income statement and I think premium size becomes more important,” said Thiele. “The larger the premium, the more diverse the book of business, the less risky you are and the easier it is to manage and the better you can do for your shareholders, and you can manage your...
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