Cooperation the key to reducing (re)insurance costs: Nichols

Collaborations and joint ventures provide a way for the
insurance industry to strip back the costs in its distribution
chain, Axis Re CEO Jay Nichols said this morning at The
Insurance Insider's Pre-Monte Carlo Executive
Briefing.
"We have a value chain issue," Nichols said.
"We're pulling a lot of dollars out to transport risk to
capital."
He pointed to the fact that transferring risk from insurance
buyers via a lengthy chain of agents, insurers, reinsurance
brokers, reinsurers and sidecar inve