21 April 2018

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Reinsurance rate rises remain elusive

9 April 2018

Property reinsurance rates remained broadly flat on loss-free accounts at the 1 April renewals, according to Willis Re's 1st View report.

"Any hopes reinsurers held for meaningful real rate increases to help offset difficult 2017 results have been dashed," said Willis Re global CEO James Kent.

Despite last year's major catastrophes, rates largely failed to rise significantly except on cat-affected accounts, with capital remaining abundant and the soft market persisting into the second quarter of 2017.

"Reinsurers can take some...

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