NU Online News Service, May 24, 3:09 p.m. EDT

It’s still a buyer’s market for insurance on upstream and downstream energy risks, according to a Marsh report. However, uncertainty has developed as reinsurers take heavy losses and natural and man-made catastrophes take their toll.

Marsh says it named its report “From Creme Caramel to Creme Brulee” to reflect that the energy market has moved from soft all over to an appearance of hardening on top but containing a “soft inside driven by too much capacity and excess capital available in the industry.”

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