Those who listened to Alan Zimmermann, managing director of Assured Research, talk about the history of the reinsurance industry at the Casualty Actuarial Society’s Seminar on Reinsurance earlier this year probably got the sense that history is repeating itself.

In the early 70s, Zimmermann recalled, “the reinsurance industry was dominated by the most awesome companies I had ever seen,” listing Swiss Re, Munich Re, American Re, General Re and Employers Re among them.