Commercial property-casualty prices declined an average of 14 percent in June, according to the latest Market Barometer put out by MarketScout.
Dallas-based MarketScout's Chief Executive Officer Richard Kerr said that the insurance industry continues to improve its financial position, despite rate cuts virtually across the board.
"There is intense competition for business in the reinsurance sector, generated via traditional channels and from the new opportunities for insurers to spread risk in the capital markets," he said.
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