The fall-out from last year's record hurricane season on the wider reinsurance market has been overplayed, according to reinsurance brokers Willis Re and Guy Carpenter.
Reports from the two companies suggested that while property, marine and energy have seen major rate increases, other lines have remained steady.
According to Willis Re only small increases of 5%-10% have been seen in the UK property market, but increases of up to 100% have been observed in loss-affected areas of the US.
Sean Mooney, Guy Carpenter's chief economist, said: "It is unlikely that we will see a hard market across all primary lines of business, which one would normally expect to follow losses of this magnitude.
"As a result, many primary insurers have not been inclined to accept rate increases across the board for reinsurance protection, since it would be difficult to pass these costs onto insureds."
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