Insight and Intelligence on the London & International Insurance Markets

22 May 2012

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Market 'softening but not soft'

13 January 2010

Reinsurers gave in to a controlled reduction of prices at the 1 January renewal, with prospects for any generalised upturn unlikely in 2010, according to leading reinsurance brokers' reports.

Aon Benfield said that with property catastrophe risks the "remarkable recovery" of both insurer and reinsurer capital in 2009 meant the January 2010 renewal market experienced rate decreases in all peak zones.

Guy Carpenter echoed Aon, noting that its world catastrophe rate on line (RoL) index declined by 6 percent as...

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