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Baden-Baden preview - Why this year's meeting is going to be hard work.
(From Reinsurance)
Until late August, this year's renewal season was shaping up to be rather dull and predictable. In fact, it looked set to be largely a wrangle about price, with direct insurers faced with declining insurance rates trying to pass some of that decline on to the reinsurance market.
This was particularly so since over the past year, there has been a growing disparity between reductions in the insurance market and those in the reinsurance market where the reinsurance market's discipline has been proving rather more robust.
However, the arrival of hurricane Katrina resolved that particular tension in a matter of hours, although its ...
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