ID Summit Bermuda: “Less capitalisation than Apple”, says Veghte
One cause of the low book values being assigned to US-listed reinsurers is that, if you take out AIG and Berkshire Hathaway, the market capitalisation of the industry is now smaller than that of Apple Inc, said Jamie Veghte, chief executive of XL Group Reinsurance operations at the Insurance Day Summit Bermuda on Wednesday.