Reinsurers postpone their quotes

Following the natural catastrophes in Japan and New Zealand, several Indian insurers have confirmed having received requests, from some reinsurers, whose names have not been disclosed, to postpone their quotes. In Asia, reinsurance treaties are usually renewed on April 1st.
Some observers believe that the terms and conditions of reinsurance will not get stiffer before next year because many 2011 treaties have already been renewed. Others believe, instead, that the fierce competition among reinsurers in India will constrain rate increases.

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