Rates for property-and-casualty reinsurance are expected to show further declines when firms renew policies in January. (Image: Shutterstock.com)

(Bloomberg) — The world’s largest reinsurers and brokers see little relief in pricing in 2016 amid a relentless influx of alternative capital from pension funds and one of the past decade’s quietest years for catastrophe losses.

Rates for property-and-casualty reinsurance are expected to show further declines when firms renew policies in January, according to executives gathering at the industry’s annual meeting in Monte Carlo this week. That follows rate declines at each of the three renewal periods in 2015.

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