Insured losses for the first half of 2012 totaled $11 billion, declining dramatically from $76 billion for the same period last year. Consequently, pricing for reinsurance renewals has moderated and capital has continued to strengthen, according to “Strong Risk Assessment Focus amid Plentiful Capital during 2012 Renewals,” a briefing released by Guy Carpenter & Company LLC.
“Catastrophe losses have been relatively limited for the reinsurance sector to date in 2012,” said David Flandro, global head of business intelligence for Guy Carpenter. “As a result, we have seen a continued improvement in the sector's dedicated capital position, which has mitigated price increases. As we enter hurricane season, we will continue to track catastrophe activity, reserving and asset-side issues in our analysis of pricing trends for the remainder of the year.”
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