HIM stops European soft market in its tracks

Rate softening in the European reinsurance market will come to
an end in January as the insurance sector responds to a $100bn
third quarter cat bill.
However, sources expect that the market will be relatively
stable at the key European renewal date, with single-digit rate
increases paid by some cedants and others likely to renew their
treaties on expiring terms.
"I think you have seen the last of rate reductions,"
one underwriting executive said. "We have told our
underwriters to...