The global reinsurance market is approaching equilibrium, or so says a new report from Willis Re, the reinsurance division of Willis Towers Watson.
Reinsurance rate increases continued for most major lines and territories during the 1.6 and 1.7 renewal period, according to the report. However, in many cases, reinsurers were forced to accept firm order terms below their initial quotes. This indicates that the market is heading for equilibrium, according to Willis Re.
