Primary insurers and reinsurers are "out of phase" in pricing casualty business, a new report from a reinsurance broker reveals.
The report, "U.S. Reinsurance Renewals at January 1, 2007," published by New York-based Guy Carpenter, notes that while soft market conditions prevail in the primary market, the reinsurance market has been relatively firm in a number of casualty lines--ranging from casualty facultative to directors and officers.
"A number of primary carriers appear to believe that their current rates are more than adequate, a view not fully shared by their reinsurance partners," according to the report.
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