NU Online News Service, March 12, 7:25 p.m. — New York
Despite the Sept. 11 attacks, the life reinsurance business continues to benefit from improving mortality trends and increasing cession rates, according to Jacques Dubois, chairman of the Swiss Re America Holding Corp.
Medical research has boosted life expectancy to an average of 76.5 years, Dubois said Wednesday at a conference organized by Swiss Re America’s parent company, Swiss Reinsurance Company Zurich.
Meanwhile, Dubois said, the cession rate ? the percentage of life insurance contracts ceded to reinsurers ? is also increasing.
Dubois estimated the rate was 70% in 2001, up from 15% in 1993 and 64% in 2000.