The Reinsurance Business Is Not as Good as It Used to Be

The reinsurance market has changed dramatically over the last two or three years a lot of alternative capital coming into the business. It's become either a fashionable asset class for people that are looking for so-called non-correlated investments and may not know what they're doing but it's something you can sell people. We do there's a certain corner of the world that we've got a strong position in and there's a few other things we will do but it's not as good as it was.