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Key mid-year renewals for risks in the property fac market have seen substantial rate reductions of around 15-20 percentage points across the board, Inside FAC understands.

"In pretty much every sector and every geographical area the market is in freefall," said one senior broker.

"It is carnage out there and people are lying if they say anything different."

It understood that some of the biggest accounts in the market fall within this picture, including industrial behemoths Arcelor Mittal and GDF...

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• Article
  ‘Carnage’ at mid-year renewals
• Issue
  June 2010/1
• Subscription
  Inside FAC