US and European reinsurance pricing slides at 1.1: Willis Re

Loss-free US property cat and risk accounts saw rate reductions
of 10 to 15 percent at 1 January renewals, according to Willis Re.


Pricing on some casualty business softened even more, said the
broker, with US general third party liability off 5 to 25 percent
on loss-free renewals.


Underwriters in Europe fared no better, with property rates down in
a similar range to the US and casualty reinsurance for the
Lloyd's and London market leading the continent on softening.

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