NU Online News Service, July 9, 2:55 p.m. EDT
The first half of 2010 has not been kind to reinsurers, who were just beginning to enjoy some recovery from the financial fallout of 2008, according to a reinsurance broker's report.
New York-based reinsurance broker Holborn issued its Mid-Year 2010 Market report, observing that the reinsurance marketplace rebounded in 2009 from a combination of high level of loss activity and the financial market downturn.
Catastrophe experience last year was "benign to the worldwide market, with no individual event costing reinsurers over $1 billion."
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