A new report from insurance rating source A.M. Best finds that the global reinsurance market booked its second loss in 10 years in 2016; the other occurred in 2011.

The Best’s Special Report, “Down But Not Out: Reinsurers Look to Reposition Amid Market Disruption,” finds that the current market “appears to be operating amid malaise” and ended 2016 with an accident combined ratio of 101.0.

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