Willis observes ‘significant flight to quality’ as reinsurance market hardens

Analysts at U.K.-based insurance broker Willis Towers Watson PLC said that there is a “significant flight to quality” in the reinsurance market as insurers leverage the market hardening to strengthen and manage their existing portfolios, Reinsurance News reported. The broker predicts further rate increases in the property reinsurance market as capacity shrinks in the catastrophe lines.