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OPINION: Endurance's CEO on the renewals
05 February 2010
This year firms face a stark choice over how to deploy their capital, says Kenneth LeStrange, chairman, president and CEO of Bermudian insurer and reinsurer Endurance Specialty Holdings.
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kenneth lestrange
endurance
Given the relatively high levels of capital achieved by most of the Bermuda reinsurers, the biggest challenge for all of us right now is the judicious deployment of that capital. The credit crisis, or at least the first wave of it, seems to have passed and balance sheets have been restored through the improvement in asset values. To varying degrees organisations will have achieved good – and in some cases great – financial results in 2009. However, having been entrusted with a great deal of capital, we are responsible for producing an appropriate return on it. A thoughtful deployment of capital will be more of a challenge this year than in the past. With all the various options available, which areas in their investment and underwriting portfolios companies choose to stress or to deemphasise can make a real difference over the next several years.On the investment side, companies need to...
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