hard market

The current post-Katrina-like hard market is an “exciting time” for insurance-linked securities (ILS) managers who see profits in the future amid high demand for capacity, suggests Emmanuel Modu, managing director of ILS at AM Best.

Property catastrophe rates and reinsurance prices have been rising, particularly in loss affected lines of business, however despite the heavy catastrophe losses of 2011 we’re not really seeing the hard market that many predicted. In a recent post on the Willis Group blog Bill Dubinsky of Willis Capital Markets & Advisory raises an interesting point; […]