Prem Watsa on insurance industry outlook in 2010 annual letter

Our businesses in Canada and the United States continue to be challenged by highly competitive market conditions. Excess capacityhas led to downward pressure on rates. Another year of benign catastrophe experience inNorthAmerica has encouraged aggressive pricing. While the industry’s accident year combined ratio is running at 100% or more, reserve releases from prior years have … Continue reading Prem Watsa on insurance industry outlook in 2010 annual letter