Hi Kit,true about your comments below and moreso in the...

Hi Kit,
true about your comments below and moreso in the insurance industry - many particularly the large houses (IAG, SUN) are in trouble. We are moving to an environment where investment returns will no longer support reckless underwriting and the days of COR being in the high 80s-90s are possibly over. Strict underwriting practices is needed.

Despite this, I still believe COR at 102 will be ok. Larger houses we will see be there this FY, just to show that they are growing GWP - despite being unprofitable.
Interesting times in insurance. Those disciplined will only survive.