Reinsurance rates stabilize in light of Sandy, report says

01/1/2013 | Wall Street Journal, The

Hurricane Sandy helped slow down declines in reinsurance pricing, according to a report from Willis Group Holdings. Reinsurance rates remained flat or decreased by up to 5% for insurers that incurred no reinsurance losses last year, but increased 10% for those that did incur such losses, the report said. "In the absence of Superstorm Sandy, reinsurers would have found it difficult to resist buyer pressure for further concessions. Sandy's impact has helped to stabilize market pricing on an overall basis," the report says.

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Wall Street Journal, The

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