The strengthening Australian dollar against other key currencies (GBP, Euro, USD) did not dampen available capacity. The market was characterized by a more than adequate supply for all lines of Australian/New Zealand reinsurance business. Average rate changes for loss free lines of business were flat or declined 10 percent. Major renewals tended to be in the market early with subsequent early completion of placement.
March 5th, 2010
Posted at 12:00 PM ET