June 2017 renewals, decrease in reinsurance rates

According to a recent report published by reinsurance broker, JLT Re, reinsurance rates have sustained an average decrease of 5% during the June 2017 renewals. This rate has, in some cases, reached more than 10%. The lingering low interest rates, abundance of capacity and exacerbated competition are unfavorable factors which continue to strain the business.

The same source has estimated global market reinsurance capacity at 325 billion USD in 2016, a figure in progression by 1.24% year-on-year. The market’s turnover had not exceeded 255 billion USD in 2016, though.

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