US reinsurance pricing finds floor as commercial rates soften

There was good news for reinsurers this month as management
commentary during the Q2 earnings season indicated reinsurance
rates are bottoming out.
During the June and July renewals, carriers started to push back
on demands for further pricing decreases, particularly in property
catastrophe business.
"We appear to be reaching a bottom in many
classes of business," said Greg Hendrick, CEO of reinsurance
at XL Catlin. "During the quarter, rates for the segment were
down approximately 3 percent. Ou