But insurers facing soft prices will not feel the benefit
Property and casualty insurers paid less for reinsurance as they renewed coverage on 1 January because of fewer catastrophes than expected and a large supply of capacity, Dow Jones reports.
Vinay Misquith, an analyst with Credit Suisse said the price cuts were only a "marginal positive" because of soft prices and lower demand for their own products.
Earnings are expected to drop in 2010, and possibly 2011 as well for P&C insurers and reinsurers. Insurers will be squeezed hardest.
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