Fewer fools at reinsurers, says O'Kane

Aspen CEO Chris O'Kane has dismissed suggestions that insurers
are offloading unprofitable books onto "foolish"
reinsurers, stating that his panel partners today are "smart
and sophisticated".
Speaking to analysts on Aspen's first quarter earnings call
last week, O'Kane explained that the company had increased its
cession rate in recent years in response to a change in market
conditions.
While four or five years ago Aspen sought to retain as much as
90 percent of its business, these days the fig