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July 1 renewals ‘orderly’ and ‘stable’
01 July 2009
Despite predictions of dramatic rate increases to offset reinsurers’ losses over the past year, the July 1 renewals were surprisingly stable, according to Willis Re’s 1st View report.
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[Willis Re]
[July 1 renewals]
[rates]
[reinsurance ]
Despite predictions of dramatic rate increases to offset reinsurers’ losses over the past year, the July 1 renewals were surprisingly stable, according to Willis Re’s 1st View report.
In capital intensive classes, such as peak zone US catastrophe, Willis Re reported rate increases of 10% to 15%. But the broker said that rates outside US peak catastrophe zones struggled to show much real increase.
The broker reported sufficient capacity in nearly all areas...
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