Light cat losses offset creeping attritional property loss ratios

A significant catastrophe loss could expose an underlying lack
of profitability in the property insurance market, an industry
executive has warned.
The property market currently does not adequately cover its
attritional loss ratio, Allied World's president of North
America Louis Iglesias said at The Insurance
Insider's InsiderScope event in New York
today.
But the looming shortfall has been covered up by a lack of
catastrophes, Iglesias said, adding that the situation could change
sooner than la