Reinsurance rates for U.S. risks are expected to continue to see a downward plunge as capacity continues to increase, according to a report released by Aon Re Global.

Midyear reinsurance renewal rates for the June 1 to July 1 period are expected to continue to soften, while terms and conditions are also expected to see improvement for customers, Aon Re said yesterday.

"Supply continues to grow at a faster rate than that of cedent demand, which implies continued softening," said Bryon Ehrhart, president and chief executive officer of Aon Re Services, in a statement, reflecting the global view of the marketplace.

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