Capital capacity remains in reinsurance market as Solvency II hits

Nick Frankland

Europe, Middle East and Africa operations CEO Nick Frankland, pictured, said the industry's cost ratio of approximately 30% was "colossal" and some cost-cutting would help, particularly as the market tightens. "At all levels it is not an efficient industry all the way along the chain. The distribution chain is unwieldy, inefficient and costly. To reduce a handful of points on expense ratios would significantly enhance your ability to remain profitable through a market like this," Frankland sa