Reinsurance pricing still shows a wide divergence depending on the sector involved, according to a brokerage firm's study.
In its report following the July 1 renewal season, London-based Willis Re said that its previously described “tale of two markets” continues. Softening pricing in many lines contrasts sharply with property-catastrophe covers for U.S. coastal and Caribbean property experiencing the “worst of times.”
Willis Re CEO Peter Hearn said the pricing outlook in the immediate term remains uncertain and highly volatile, particularly in the event of another major storm.
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