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Christopher O'Kane, group CEO of Aspen Insurance Holdings Ltd. said it is clear that "pricing momentum in catastrophe-exposed property accounts is continuing to build."
O'Kane said on a July 28 earnings call that he expects the momentum to become more apparent as market focus shifts to 2012.
U.S. catastrophe events in the second quarter added an estimated $18 billion to the $48 billion of insured losses from natural catastrophe events in the first quarter, and the half-year total of $66 billion exceeds $40 billion for the whole of 2010.
O'Kane said U.S. insurers and...