Despite ample capacity and a good 2006, European reinsurance rates appear to be softening at only a moderate pace, according to a study by A.M. Best.

Global reinsurers continue to instill underwriting discipline and have reduced their exposure to lines of business they regard as inadequately priced, the study noted, based on the Jan. 1 renewal reports of the top European secondary carriers.

In addition, SCOR's improved financial strength has enabled it to regain clients it had lost during financially difficult times.

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