Rating downswing more severe than expected: Vickers

With rates again showing significant softening at 1 January, Willis
Re has said that it had expected the drop off in rates to be more
moderate in this pricing cycle.
"We had all hoped that with more modelling and more
sophistication that the severe upswings and the severe downswings
would be moderated," Willis Re's chairman of international
James Vickers told The Insurance
Insider.
"And to be fair I'm sure if we look back in 10
years' time we will see...