Reinsurers continued to see soft market price declines through June and July renewals, but underwriters are not pricing for the next catastrophic event despite warning signs, an executive for Willis Re warned.

In its July 1 renewal report, Peter Hearn, chief executive officer of Willis Re, a subsidiary of Willis Group Holdings, noted that despite losses in the investment market and several catastrophic events throughout the world during the first half of 2008, reinsurers are inadequately pricing risk.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including and

Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including, and
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2023 ALM Global, LLC. All Rights Reserved.