Average rate changes at the Spain renewals encompassed a wide range, from increases of 25 percent to declines of 10 percent. Some lines experienced no changes while the property line saw most of the significant rate changes. Excess of loss (XOL) Property business with losses showed average rate increases of 25 percent that mainly resulted from Windstorm Klaus effects. Average rates declined slightly on Property Risk business with losses and declined from 4 percent to 10 percent on Property Risk business without losses. Primary insurers increased retentions on XOL Property per event programs to reduce the impact of the rate increases. Marine rates showed little change from the large increases of the prior year’s renewal. Capacity problems were not an issue in this highly competitive market.