"We are approaching the top of a cycle which we believe is unlikely to precede a precipitous and damaging decline in rates," James Kent, Willis Re global CEO, said. "Instead, the market is likely to retain its discipline in order to maintain the balance it has achieved over the past couple of years, especially with the full picture of losses from COVID-19 and prior year liability lines still to emerge." (Credit: Shutterstock)
During the most recent renewal periods, global reinsurers maintain pricing momentum built during the first quarter, according to Willis Re, which cautioned there were signs capacity supply was beginning to outpace demand.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
