Archive for January, 2008

January 9th, 2008

2008 Reinsurance Market Review: Near Misses Call for Caution

Posted at 1:08 PM ET

Cedents took advantage of a buyer’s market. Many 2008 renewals closed late as cedents held out for lower rates in the continuing soft market. Reinsurers were rewarded not only with lower rates, but often smaller lines. The absence of large catastrophe losses was a key factor in the softening of reinsurance markets. Barring large catastrophe losses in 2008, the downward drift in rates is expected to continue through 2008 and into 2009.

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