PwC: Normal cat year would wipe out offshore energy profit

An "average" natural catastrophe year would erode all
profits for energy offshore property risks in the Gulf of Mexico,
according to PwC research.
In its 2016 review of London market pricing conditions, released
today, PwC said average risk-adjusted rate reductions for Gulf of
Mexico offshore risks exceeded 25 percent last year.
In this class of business, the market includes an average 30
percent catastrophe loss ratio within business plans, it added.
"In light of ongoing and double-digit rate r