January renewal, tariff decrease for marine treaties

According to Guy Carpenter, the non-proportional reinsurance treaties for marine business that are not affected by claims have witnessed price reductions of about 5% during the January 2012 renewal. This trend is accounted for by the good profitability exhibited by reinsurers over these programs. The tightened conditions on per-event/catastrophe layers were not enough to maintain prices. Guy Carpenter has estimated that renewals for upcoming months will only confirm the January remarks.