High premium increases for catastrophe reinsurance are not a worldwide phenomenon, indicating underwriters are distinguishing between risks, according to a report by a leading reinsurance broker.
The 120-page study by Guy Carpenter, a subsidiary of New York-based services company Marsh & McLennan, was titled “The World Catastrophe Reinsurance Market: Steep Peaks Overshadow Plateaus.”
It found that while the world rate increased 32 percent in 2006, 76 percent of that increase came from the United States. Excluding the United States, the report said, worldwide rates only increased a few percent.
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