Wednesday 05, March 2014 by Robin Amlôt

Moody's: Softening rates and overcapacity in the GCC benefiting reinsurance buyers

Reinsurance buyers in the Gulf Cooperation Council (GCC) are benefiting from softening rates as a result of global reinsurance overcapacity, local insurers retaining more premium and therefore ceding less to reinsurers, together with relatively benign natural catastrophe losses during 2013 in the GCC and globally, says Moody's Investors Service.

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