Casualty Re Not Quite A Sellers Market
Although casualty reinsurers tried for exorbitant rate hikes in December 2001, by the time most deals were done in mid-January, reasonable and adequate price changes had been agreed upon, market participants report.
"In the early part of this renewal cycle, there were reinsurers throwing out quotes–sort of like throwing something on the wall and seeing if it sticks–a little on the high side," said Gregory Sandvik, managing director for Guy Carpenter in Stamford, Conn. "And a lot of that was not sticking and they were willing to back off [later]," he added.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
