View from the top: A very bad year
Despite reinsurers' initial talk that the Australian floods and the New Zealand & Japanese earthquakes were earnings — not balance sheet — events, and there would be no impact on rates, the chatter has changed recently, with some now actively hinting at rate increases for the mid-year renewals.
Reinsurers' results for the first quarter of 2011 are starting to come through and they generally don't make good reading. Many have already taken such a battering on their reserves that any further
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