The record catastrophe losses of 2005 did not produce theoverall hard market at renewal season predicted by some analysts, anumber of leading brokers said.

According to statements they have issued, while major pricehikes were achieved for property catastrophe covers, particularlyfor those carriers with big Gulf exposures, pricing in other lineshas remained flat.

Sean Mooney, chief economist for Guy Carpenter Inc., New York,said last year's catastrophes were an earnings, and not a capitalevent.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.