Industry | 2009.09.07
Guy Carpenter’s 2009 World Catastrophe Report Finds Rates Rising As Industry Rides Out Financial Crisis
NEW YORK--(BUSINESS WIRE)--Guy Carpenter & Company, LLC’s annual survey of the global property catastrophe reinsurance market, World Catastrophe Reinsurance Market 2009, finds reinsurance rates increasing by an average eight percent through the 2009 reinsurance renewals. The report states that the increase was largely a result of the financial crisis and its negative impact on reinsurers’ balance sheets, and was exacerbated by Hurricanes Ike and Gustav. The study also concludes t
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