Although reinsurers cut prices for June 1 renewals, one Bermuda-based executive speculated that price hikes in the insurance loss warranty market–fueled by the Deepwater Horizon disaster–could eventually spread to the reinsurance market.

Jeff Consolino, executive vice president and chief financial officer for Validus Holdings, made his observations about the ILW market during a session of the Oppenheimer CEO Insurance Summit last month.

During the session–titled, “Reinsurance: How Have Recent Natural Catastrophe and Weather Events Impacted the Prospects for Reinsurance Pricing” (available on an archived webcast on the reinsurer's website at http://bit.ly/daL91f)–Mr. Consolino agreed with most commentators that it is too early to tell whether liability exposures related to the sinking of the Deepwater Horizon rig are enough to make a dent in, or even turn, the casualty market.

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