Reinsurers see rates down about 10% at June 1st renewal
Tuesday, 05 12 2015, Category: Insurance and Reinsurance, Country: World
Insurance and reinsurance companies in Bermuda expect that June 1st renewal rates will be down around 10% year-on-year, but many also suggest that stabilisation in pricing is becoming evident, according to analysts at Keefe, Bruyette & Woods.
KBW’s analysts visited a number of leading insurance and reinsurance firms during a trip to Bermuda last week and found that anecdotal evidence suggests that rate decreases on mid-year renewals now seem to be decelerating.
KBW views the fact that price declines are slowing as a positive for the reinsurance sector, against the backdrop of a broad perception that “insatiable and disruptive” alternative capital is here to stay.