Search
 

Some U.S. Reinsurance Market Rates Run 'Hot,' But Many Sectors Still Feel 'Tepid'

Despite many factors that should be contributing to a hardening market overall, competition in some coverage lines and geographic regions has heated up, while activity in many other areas remains tepid, keeping price hikes more modest than anticipated.

By Caroline McDonald | Updated on July 05, 2009

Despite many factors that should be contributing to a hardening market overall, competition in some coverage lines and geographic regions has heated up, while activity in many other areas remains tepid, keeping price hikes more modest than anticipated, reinsurance experts say.

Chris Klein, global head of business intelligence with Guy Carpenter in London, said in January buyers overall saw moderate increases, which he said means expectations of higher prices last fall were not met. The important theme now is that while prices at renewal were up about 15 percent on average, that amount was below the anticipated hardening of about 20 percent.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 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.

Dig Deeper

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.