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Global Reinsurance Capital Hits Record Levels; Competition Holding Down Rates

Reinsurers worldwide had $480 billion in capital available at the end of June, up 5 percent from the end of 2011 as the industry posted smaller disaster losses and charged higher prices in some areas, brokerage Aon Benfield said on Tuesday.

By Reuters | Updated on September 04, 2012

(Reuters) – Reinsurers worldwide had $480 billion in capital available at the end of June, up 5 percent from the end of 2011 as the industry posted smaller disaster losses and charged higher prices in some areas, brokerage Aon Benfield said on Tuesday.

The figure represents a record for the Aon Benfield Aggregate, the firm’s semi-annual review of market capacity.

Many reinsurance companies expected sharp, across-the-board price increases this year after 2011′s record-breaking losses in excess of $100 billion, but an influx of capital has kept a lid on pricing for the most part.

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