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Willis Re: New Entrants to Keep Reinsurance Prices Flat

The entry of new investors like hedge funds into the reinsurance market is likely to keep prices mostly flat when European customers renew policies in January, despite the industry's losses from superstorm Sandy, broker Willis Re said.

By Sarah Mortimer, Reuters | Updated on January 02, 2013

LONDON (Reuters) – The entry of new investors like hedge funds into the reinsurance market is likely to keep prices mostly flat when European customers renew policies in January, despite the industry’s losses from superstorm Sandy, broker Willis Re said.

The U.S. reinsurance broker said on Wednesday the industry, which takes on risk from insurers, would suffer up to $25 billion in losses from superstorm Sandy and that would ensure prices for property reinsurance stabilise after years of falls.

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