Pension and hedge funds flush with cash and hungry for yield are creating a market for reinsurers willing to look past the price cuts these investors have inflicted on traditional catastrophe coverage.
Capital available for reinsurance coverage hit a record $575 billion at the end of the third quarter, placing pressure on prices, according to broker Aon Benfield.
Capital available for reinsurance coverage hit a record $575 billion at the end of the third quarter, placing pressure on prices, according to broker Aon Benfield.
Munich Re, the worlds biggest reinsurer, reported second-quarter profit that missed analyst estimates, hurt by claims linked to a snowstorm in Japan. The shares dropped the most in three months.