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Editorial - Try and make a price rise stick - and see what happens to your book.(Editorial)
(From Reinsurance)
Byline: Mark Geoghegan, editor, mark.geoghegan@incisivemedia.com.
Dear Friend,
Sometimes as an industry it seems that we let events start to dictate the agenda to us - and we've had events aplenty in 2005 - 64 named storms globally and counting - this year's been enough for a lifetime already, and there's still a whole quarter left to run.
Dennis, Katrina and Rita have already been highly significant events - and we're not really counting the damage from another high-frequency, high-severity Asian Pacific typhoon season in all of this.
This year, who in the Lloyd's building is daring repeat the old market saying "never in November", without first gingerly touching the wood on the box for superstitious reassurance?
But this is the danger of events - they tend to distract us from the bigger picture. Well, let's remind ourselves - this business is ultimately about capital. Those that deploy capital wisely end up with a lot more of it than those that don't. Right now do you think that deploying extra capital in the reinsurance business is a smart move? Are you feeling lucky?
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