Midyear prop-cat reinsurance capacity down for first time in decades: Aon

For the first time since the devastating U.S. hurricanes of 2004 and 2005, property-catastrophe capacity contracted during the June/July reinsurance renewal period, Aon said in a recently released report. While the reinsurance market remained stable on the casualty side, property reinsurance capacity constraints were exacerbated by insurers' rising…