LONDON, May 30 (Reuters) - Property catastrophe reinsurance rates will fall 5% on average on a risk-adjusted basis at the key June 1 renewal date, reinsurance broker Howden Re said on Thursday, after "notable" rate rises in 2022 and 2023.
Greater levels of capital in the sector have contributed to the reduction in rates, Howden Re said in a statement.
(Reporting by Carolyn Cohn Editing by Gareth Jones)
