Downward Pricing Pressure on Reinsurers and Marine Classes Abates
At January 1 renewals, marine endures its worst year in recent history, reports Willis Re.
INN Breaking News, January 2, 2013
Most reinsurers remain within their annual catastrophe budgets and don’t face any material capital impact as a result of Superstorm Sandy, according to “Reinsurers Clear the Sandy Hurdle,” the January 2013 renewals report from Willis Re. As a result, rates on property classes have stabilized and there will be no blanket rate increases at January 1, 2013, the company said.
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