July 15th, 2008

Chart: Quoting Behavior at July 1, 2008 Renewals

Posted at 4:30 PM ET

In successive renewal anniversaries, catastrophe quote spreads have tightened as reinsurers have become more realistic about their abilities to maintain expiring prices. But, there was little change in overall terms and conditions. Retentions and limits are generally stable. In the United States, the memory of terror risk seems to be fading. Rates for this peril continue to decline, particularly for covering retentions under the TRIA program (and its USD100 million event trigger).

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