February 23rd, 2009

Late Renewal, Little Movement in Italy

Posted at 4:00 PM ET

Italy experienced a very late renewal, with many cedents finalizing their placements in early January 2009. Ceded premiums declined substantially due to increased retentions and the cancellation of proportional treaties in favor of excess of loss structures. Price increases were small (if any), and the availability of capacity was not an issue.

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