Montpelier CEO: Reinsurers will merge

Chris Harris, chief executive of Montpelier Re, told a Macquarie-sponsored conference that low valuations for reinsurance companies will lead to more mergers.

“I view it as an opportunity over the next couple of years,” said Harris, saying firms could “really emerge in a strong position two or three years from now.”

Marston Becker, CEO of Bermuda-based Alterra Capital said that new interest in reinsurance companies by private equity firms showed that deals were gaining momentum.