PA and life cat lead specialty softening at 1.1

An absence of losses in the personal accident (PA) and life
catastrophe market has sent rates tumbling 15 to 25 percent on cat
and risk accounts at 1 January, according to Willis Re.
There was also strong softening in other specialty lines,
including engineering and global trade credit, while pressure
mounted on pricing and commissions on loss-free aerospace and
marine renewals, and hardening in the loss-struck aviation hull war
market was less than expected.
In engineering, the broker said it..