(Reuters) – Reinsurers worldwide had $480 billion in capital available at the end of June, up 5 percent from the end of 2011 as the industry posted smaller disaster losses and charged higher prices in some areas, brokerage Aon Benfield said on Tuesday.
The figure represents a record for the Aon Benfield Aggregate, the firm's semi-annual review of market capacity.
Many reinsurance companies expected sharp, across-the-board price increases this year after 2011's record-breaking losses in excess of $100 billion, but an influx of capital has kept a lid on pricing for the most part.
Aon Benfield, a unit of Aon Plc and the world's largest reinsurance broker, said newly entered capital represented about 20 percent of the total increase this year.
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