Reinsurance broker Guy Carpenter has reported that after two years of price decreases averaging 15 percent on US property catastrophe placements, average risk-adjusted rate moderation at the most recent June renewals was in the high single-digit range
Although the US commercial P&C marketplace is broadly stable, competition in property is intensifying as excess capacity and a lack of major losses drive rates sharply down, according to Insider New York panellists.
The US property insurance market is seeing rates fall sharply as excess capacity and a lack of major losses combine to produce a highly competitive environment within an otherwise stable overall domestic P&C marketplace.
