Guy Carpenter report on World Catastrophe Reinsurance Market 2008

by Artemis on September 8, 2008

The annual report from Guy Carpenter detailing the worlds catastrophe reinsurance market is now available. They found that rates have dropped by 10% on average in 2008 compared to 6% in 2007. Peter Zaffino, President and CEO Guy Carpenter, said: “We continue to see a convergence of capital markets and reinsurance. With instruments such as catastrophe bonds and sidecars playing an increasingly prominent role, we would expect to see a rapid and substantial inflow of capital following the next mega-catastrophe. This added market elasticity should eventually help temper cyclical swings and tame the peaks we have seen in the past in hard markets.

You can download the full report here.

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