NU Online News Service, April 2, 9:30 a.m. EDT
With the exception of parts of Latin America, reinsurance rates for most of the world continued to decline at the April 1 reinsurance renewals period, a brokerage said.
Guy Carpenter & Company, LLC, in its Annual Review took note of the Chile earthquake and said up to half of catastrophe loss ratio budgets were consumed, causing reduced headroom for a larger catastrophe later in the year.
It also predicted that this budget scenario, "along with buoyant balance sheets, lower investment yields and thinner reserve releases will put pressure on returns, sustaining active capital management and perhaps, in time, stabilizing the market."
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