Global property cat rates down 5.7% at 1.1: JLT Re

The reinsurance market was again soft in the January renewals,
although the pace of rate reductions moderated and the conditions
for a pricing correction have started to crystallise, JLT Re has
said.In a statement released just ahead of the 1 January renewals, the
reinsurance broker estimated an average risk-adjusted reduction in
property catastrophe rates worldwide of 5.7 percent, an improvement
on the 8.2 percent decline a year ago, and on 11 percent in 2015
and 12 percent in 2014....