'Double dip' Florida renewal sends rates down 5-7.5%

A depressing picture has emerged for property catastrophe
reinsurers in the key 1 June Florida renewals with a
re-acceleration of softening that has shattered underwriters'
hopes that a floor on pricing was in sight.
This time last year The Insurance
Insider reported that rate
reductions had coalesced in the 2.5 to 5 percent range,
representing a slowdown in softening from the 2015 renewal, and an
increasingly differentiated approach from reinsurers to the quality
of cedants.
But a survey of und