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Member, Beacon International Group, Ltd.
Hannover Re S.E. has said that supply of reinsurance capital and capacity is far exceeding demand in global property/casualty reinsurance space, "although further indications of a bottoming out in prices could be discerned," Artemis.bm reported.
The reinsurer said that supply exceeds demand as market conditions remain challenging. "In the current soft market for property/casualty reinsurance we attach greater importance to safeguarding the profitability of the business than to boosting premium income," said Hannover Re chief executive Ulrich Wallin.