Reported 12 months ago
Property catastrophe reinsurance rates showed a decline in July according to a report by reinsurance broker Guy Carpenter. The rates ranged from being unchanged to falling by 'mid- to high-single-digit' percentages, marking a change from previous years of rate increases. Insurers attribute the price adjustments to the profitability of reinsurers being boosted by high prices in recent years, despite global catastrophe insured losses reaching nearly $50 billion in the first half of the year. Catastrophe bonds also saw a record issuance in the first half, offering a good return without payouts if a specific catastrophe is triggered.
Source: YAHOO