Reinsurance results not bad enough yet for flat renewal

Reinsurers will have to suffer a period of real pain before they
can expect a stabilisation in pricing and, ultimately, an increase,
according to the reinsurance brokers.
Despite the professed hopes of reinsurers at the autumn
conferences for a flat renewal, pricing again softened across
almost all lines and territories at 1 January.
"The market is trying to stabilise but it hasn't yet,
primarily because it's making too much money," said James
Vickers, chairman of Willis Re International.
Howeve