Primary insurers are continuing to take on additional risk, reducing amounts of renewable premium, the chief executive of PartnerRe Ltd. in Bermuda reported.

Patrick Thiele, PartnerRe president and chief executive officer said, "Overall, we found the market to be orderly at January 1. A significant amount of business--almost 10 percent of our renewable premium--left the reinsurance market as cedants continued to retain more risk."

He said also that competition is expected to increase this year.

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