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Guy Carpenter Sees Reinsurers In Soft Market

Insured losses from Kyrill are estimated between EUR4 billion and EUR8 billion ($5.2 billion and $10.4 billion). Insurance losses from the U.S. winter storms are currently estimated at more than $250 mill

By Staff Writer | Updated on January 31, 2007

Along with a general decrease in rates in all lines, the U.S. reinsurance market is entering a soft market period, according to an economist with Guy Carpenter reinsurance brokerage.

Sean Mooney, Guy Carpenter’s chief economist, noted in a statement that renewal business on Jan. 1 for U.S. catastrophe risks was below July 1, 2006 rates.

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