LONDON, July 02, 2018 (GLOBE NEWSWIRE) -- Momentum for rate increases on loss-free reinsurance accounts dissipated during the June/July property catastrophe renewals, and in some cases, pricing declined. For example, although most loss-free Florida property accounts were flat, some saw rate declines of up to -7.5%, as competition for this business was heightened, and non-traditional players offered layers with reinstatements. Reinsurance lines beyond property catastrophe have seen varied results for the mid-year renewals and where original loss ratios have deteriorated due to sequential years of rate reductions or high loss activity, reinsurance pricing has firmed.
New normal prompts reinsurer action: Willis Re 1st View
Jul 02, 2018
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