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"All through this year, reinsurance prices have been getting better."
"Reinsurance prices have come way down in the last two or three years," he said.
For years his reinsurance consulting business took him to the city.
He advised and was a director of various reinsurance companies from 1984 to 2008.
"Reinsurance rates were down last year and there was too much capacity in the system," he said.
Reinsurance is bought by insurance companies to spread their risk.
But the Koreans have promised to open their reinsurance market by 1990.
The results also suggested that reinsurance could work, at a surprisingly small cost.
Financial reinsurance is one means by which insurance companies can "smooth" their results.
In other words, financial reinsurance increases the company's free assets.
Calls to Reinsurance over the weekend for comment were not returned.
The cost of the reinsurance will sharply lower his profit.
"For many international companies, that makes the American reinsurance sector very attractive right now."
Finite or financial reinsurance has been in use for more than a decade.
High-risk people would be covered through an industry reinsurance fund.
Analysts said the reinsurance market might not turn profitable for a year.
One manager said this week that his fund had been looking closely at reinsurance.
The policies in question are known as finite insurance or financial reinsurance.
The insurers have said that the reinsurance arrangements involved a small part of their business.
Reinsurance is coverage that insurance companies buy to reduce their own risk.
Perhaps it was time for a little more reinsurance.
There are 200 countries in which the private sector is providing the necessary reinsurance.
The reinsurance market is dominated by a few very large companies, with huge reserves.
The investigations into financial reinsurance have already produced some striking results.
Certainly property reinsurance will become a tighter market with higher premiums.