Reinsurers, Brokers Say Worst Market Will Continue
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Reinsurance prices will fall and worsening terms and conditions will spread to new classes next year as the industry competes for business, said reinsurers and brokers gathering at their annual meeting in Monte Carlo.
An absence of costly disasters and increasing competition from new entrants dragged on prices this year as reinsurers struggled to halt the slide, industry officials said before starting talks with brokers and clients this week over next year’s property-and-casualty policies.