Florida resistance crumbles at 1/6
The talk was tough and the pre-renewal posturing unforgiving, but the supply and demand fundamentals of a global soft reinsurance market were reasserted as the orders eventually came in.
Florida cedants largely secured the substantial discounts they and their brokers had been looking for at the 1 June renewals.
Guy Carpenter confirmed expectations of continued market softening after reporting risk-adjusted average reinsurance pricing falls of 10 to 12 percent.
The broker said the decline was due to a "return of...
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