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Reports: Reinsurance Rates Falling; Sector Adapting to Meet Pricing Challenges

GC and Willis Re report falling property catastrophe reinsurance rates for 2014. The competitive pricing environment will push companies to innovate in 2014, say property and casualty insurance experts at the turn of the New Year.

By Anya Khalamayzer | Updated on January 02, 2014

The competitive reinsurance pricing environment will push companies to innovate in 2014, say property and casualty insurance experts at the turn of the New Year. 

Guy Carpenter says its global property catastrophe reinsurance rate-on-line index fell by 11% at the Jan. 1 renewal, driven by a 15% decline in the U.S., while European and U.K. prices fell by 10% and 15%, respectively.

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