Hurricane Matthew to have limited impact on reinsurance rates

Reinsurance industry representatives have said that Hurricane Matthew will have a limited impact on sliding reinsurance rates, Bloomberg reported. "I expect a strong likelihood for resistance to further price cuts," Ludger Arnoldussen, a member of Germany-based Munich Reinsurance Co.'s management board, said. "Reinsurance capital is still very high and the claims bill from natural disasters is still below average," said Jan-Oliver Thofern, head of Aon Benfield Group Ltd., Aon P.L.C.'s global reinsurance intermediary and capital adviser, adding that "improvements in prices and conditions are a real possibility for primary insurers next year."

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