Small Rate Cuts Keep London Market Calm

Rates are definitely softening on property-catastrophe reinsurance in London, but so far everyone is remaining calm for a series of simple reasons, market experts here contend.

Rate cuts have been small typically 5-to-10 percent and coverage is above high retention levels, these experts report. Terms and conditions are being maintained and cutthroat competition has not emerged despite surplus capacity, they say. Moreover, casualty rates are holding or still rising.

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