Signs of rates stabilising in competitive reinsurance market
Thursday, 02 04 2016, Category: Insurance and Reinsurance, Country: World
German reinsurance firm Hannover Re, one of the world’s largest and most diverse, said that conditions in the reinsurance market at the key January renewal remained “essentially unchanged year-on-year” but that there were signs of rate stabilisation among the competitive conditions.
“The situation on worldwide property and casualty reinsurance markets was essentially unchanged year-on-year. With market-changing large losses again absent in 2015 and clients carrying more risks in their retention, the supply of reinsurance coverage continues to exceed demand,” the reinsurer explained this morning in an update on the recent renewals.