Reinsurers resilient against waves of catastrophes, economic uncertainty : special report

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      <subfield code="a">Reinsurers resilient against waves of catastrophes, economic uncertainty</subfield>
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      <subfield code="a">The numerous loss events of 2011 came very close to that tally with approximately $110 billion of losses. This time, however, the market responded without any significant dislocation or squeeze on capacity. The January and April 2012 renewals for the most part were orderly and timely. While pricing, terms and conditions improved for property catastrophe covers, the broader market benefited from a stable supply of reinsurance capacity, and pricing generally remained flat. It is reasonable to ask why the market did not turn more broadly, considering all that 2011 offered: significant catastrophe losses, record low investment yields, uncertain financial markets and the downgrade of U.S. sovereign debt. The simple answer is that reinsurance capacity remained ample despite the magnitude of losses and unrelenting headwinds</subfield>
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