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RECESSION HALTS
HARD MARkET
Reinsurers have yet to be rewarded with expected rate
increases as other recessionary pressures conspire against
a truly hard market. Intelligent Insurer investigates.
There is much debate over exactly how much capital
left the global re/insurance industry in 2008, but most
estimates range around $100 billion. re/insurers were
hit on both sides of the balance sheet, with losses from
Ike—the third most costly US hurricane in history—
paling in comparison next to the investment losses and
writedowns linked to the financial crisis.
September 2009 | INTELLIGENT INSURER | 19
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