Catastrophe rates fall up to 20% at mid-year renewals: Gallagher Re
- by Nils Wright
Catastrophe loss-free rates fell by 10% to 20% at the mid-year renewals, while non-marine retrocession loss-free rates declined by 5% to 10%, according to Arthur J. Gallagher (U.K.) Ltd., Artemis reported. The broker also said non-marine retrocession buyers are increasingly turning to the catastrophe bond market to manage possible maximum loss exposures.
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