Report: Only disaster-hit areas will see reinsurance rate increases

01/3/2013 | Business Insurance (tiered subscription model)

The overall reinsurance market remains stable, with rate increases confined to regions that directly experienced catastrophe losses, according to a Guy Carpenter report. "The Jan. 1, 2013, renewal was very orderly, as catastrophes had only local impact," Marsh & McLennan's Lara Mowery said, adding that the stability could be partially attributed to the inflow of capital from catastrophe bonds and other nontraditional sources. "Even insurers who do not directly utilize nontraditional sources benefit as reinsurers further leverage this capacity," Mowery said.

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