Florida fund dilemma for cat reinsurers

But companies, almost without exception, insisted that the impact on their business would be minimal

Bermudian reinsurers unveiled their final results for 2006 amidst much congratulation among from themselves as well as analysts and investors. With returns on equity above 20% the norm, there was much to be pleased about. Shareholders in PartnerRe, Transatlantic Re, Axis and RenaissanceRe could all celebrate the fact that they had earned back the mammoth losses of 2005 within twelve months as book values per share rose above where they had been before Katrina, Rita and Wilma (KRW).