NU Online News Service, June 30, 2:45 p.m. EDT
For U.S. coastal property business, “the market’s capital has felt ‘three Katrinas,’” according to experts at a reinsurance broker, which previously speculated it would take three Katrina-sized events to push up reinsurance prices.
In a report on midyear conditions in the reinsurance market previewed by NU today, Holborn, a New York-based reinsurance intermediary, says that so far, however, the impact has been “capacity tightening more than pricing.”
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