While the new year typically brings with it a sweep of optimism, there also is the specter of past year to reflect upon. To that end, Guy Carpenter & Co. LLC released a briefing today noting that reinsurance rates across most lines of property catastrophe business declined at the Jan. 1, 2010 renewal.
Guy Carpenter’s World Catastrophe Rate on Line Index declined by 6% at the Jan. 1, 2010 renewal, as the reinsurance market recovered and swiftly recapitalized in the wake of the global financial crisis and large reduction in catastrophe losses.
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