According to a well-grasped liberalism, the State's progressive disengagement from activity sectors and the free flow of capital would be the key to economic growth, the system's ultimate aim being to provide the consumer with the best service at the best cost.
However, the way things are going on the reinsurance market is in inconsistency with this liberal principle.
The abrupt attack orchestrated by the French Scor on Converium is the most recent illustration of the never-ending trench war.
No sooner had it absorbed Revios than Scor attacked a new prey. How can we account for the current voracious appetite of the one who was deemed as a moribund in recent past, and what miracle cure has prompted such a powerful come-back?
Given the pace with which mergers and acquisitions are succeeding, there will be only a few operators left on the market to share the gigantic basket. Their position will turn them into a cartel that will end up dictating its will.
An imminent threat to be taken seriously by insurers.