Market Report: US - Expansion and prediction.

(From Reinsurance)

Benfield launches facultative operation in Puerto Rico

Benfield has expanded its capabilities in Puerto Rico with the launch of a facultative reinsurance operation offerimg facultative and treaty-broking services to the (re)insurance sector on the island. A Puerto Rico and Caribbean facultative broking team from Aon and PWS has been recruited to run the new service.

Elliot Richardson, who leads the global facultative solutions operations, said: "Puerto Rico is a sophisticated and highly competitive market, with strong international recognition of its professional approach to business.

Benfield has been present in Puerto Rico in a treaty capacity for many years and has built excellent relationships with many of the islands key insurers. Our new facultative resources will complement these established relationships and provide customers with innovative facultative solutions to meet their needs."

III makes predictions for 2005

The Insurance Information Institute (III) has conducted its annual forecast for the next year based on the views of Wall Street stock analysts and other industry professionals. In 2005, most analysts expect the heat will continue to come off premium growth, while the combined ratio continues to hold steady.