Bad reinsurance market may carry into 2015, executives sayReprints
Reinsurers will have a tough time trying to halt a decline in reinsurance prices when they meet their customers and brokers in Monte Carlo to start negotiating property/casualty policies for 2015, reports Bloomberg.
The absence of expensive catastrophes and stronger competition from new players have already affected prices in 2014, and executives told the news website that the worst reinsurance market in memory would probably carry into 2015. Hannover Re S.E.'s management board member, Juergen Graeber, called 2014 "shocking" as "prices declined very rapidly."