will be consolidated retroactively from 1 October 2000 into AGF MAT (Marine, Aviation & Transport), the insurance group's subsidiary created in 1996.
Graham Nichols, chief executive and chief underwriter of WAIG
, cited figures showing that the market has traded at a loss for eight of the past 10 years, and he forecast further difficult trading conditions ahead.
The other approach, favored by WAIG
, is for lead insurers to convince clients of the need for rate increases, then encourage followers to raise their prices accordingly.