Property reinsurance prices continued to decline in the first half of the year, according to a new brokerage report.
In the first market commentary from a major broker analyzing the July 1 renewal season, the London-based Willis Group Holdings review for the first half of the year noted favorable 2006 results. It also listed continued capital infusion as among the main factors leading to the property sector depression, and increased competition in other lines.
Diversifying reinsurer appetites also contributed to this trend, Willis said.
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