NU Online News Service, Sept. 13, 3:45 p.m. EDT
Despite severe losses during the 2010 first quarter, reinsurance rates are expected to remain soft through Jan. 1 renewals, but much depends on loss activity during the course of this year, two recent reports said.
Reinsurance brokers Aon Benfield and Guy Carpenter released reports on the marketplace this weekend, saying that while rates remain in decline, reinsurers are showing strain, and a significant loss event could trigger a turn around.
Aon Benfield observed, "Capacity continues to grow more quickly than demand despite capital management actions and some reinsurer consolidation."
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