Rate reductions are expected to continue for U.S. reinsurance accounts with the midyear renewals unless catastrophe losses increase in the near term, a reinsurance brokerage said.

Guy Carpenter's comments came in a report on the reinsurance market titled "The Market's Mixed Signals: Reinsurance Renewals at April 1, 2008."

The report covers the reinsurance market for the United States, Japan, Republic of Korea and India.

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