The heavy first-half catastrophe loss burden of 2010 was not sufficient to drive a general reinsurance market turn, as the trend of competitive price declines continued at the 1 July renewals, according to the major reinsurance brokers.
All three global brokers noted that only a handful of loss-driven classes and territories showed any pricing stability or upwards pressure, while most other regions saw price reductions in line with earlier renewals in 2010.
Aon Benfield explained that reinsurer capital remains at...
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