US large property cat pricing off 20%

The relentless pressure on US property fac rates has continued
apace, with some of the largest cat renewals seeing reductions of
10-20 percent, sister title Inside FAC reported earlier
today (9 May).
For more standard business the picture is less bleak, although
pricing reductions still appear to be the order of the day. A
typical range of 5-7 percent down is being spoken about for more
mid-market and standard business, with semi-automatics offering
smaller reductions still.
"Rates for Fortune 2