'Double dip' Florida renewal sends rates down 5.0% to 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 5.0 percent range, representing a
slowdown in softening from the 2015 renewal, and reflecting an
increasingly differentiated approach from reinsurers to the quality
of cedants.
But a