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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.

Read more: [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...