Global reinsurance prices firmed for Jan. 1, 2009 renewals and are expected to remain firm for the April through July renewals, according to a report issued by Aon Benfield insurance brokerage.
In its January 2009 Reinsurance Market Outlook, Aon Benfield, a unit of Chicago-based Aon Corp., said that assuming there is only limited additional turbulence in the financial markets and no significant reinsured catastrophe losses occur, it expects that the April through July reinsurance renewal market will be similar to the Jan. 1 market.
U.S. hurricane and earthquake reinsurance pricing rose modestly at January renewals, and pricing of other global natural perils held firm.
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