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Member, Beacon International Group, Ltd.
Willis Re, the reinsurance arm of Willis Group Holdings P.L.C., has said in a report that there are signs of rationality emerging in the reinsurance market as capital growth in the sector slows down, Artemis.bm reported.
"Markets clearly continue to face significant over-capacity and competitive pricing conditions, and overall underwriting margins remain under substantial pressure," said Willis Re Global chief executive John Cavanagh. But, "the evolution in the Willis Reinsurance Index is another indicator that we are beginning to see the emergence of rationality in the market," added Mr. Cavanagh.