Amer Ahmed, chief executive officer of Allianz S.E. Reinsurance, said property/casualty reinsurance rates, which dropped in seven of the last 10 years, are unlikely to rebound in 2014, Bloomberg reported.
Mr. Ahmed said "there's less business going into the reinsurance market, and there's more appetite from both traditional players and newcomers." He said catastrophe activity was "very light" in 2013. He added that he is "not expecting anything radical for the upcoming renewals throughout the year."