If April 1 is an accurate barometer for U.S. property/casualty insurers with June and July 1 reinsurance renewal dates, then those primary carriers can look forward to lower prices for both traditional and nontraditional covers, reinsurance brokers report.

Aon Benfield and Guy Carpenter, in separate reports, say that carriers renewing on April 1 benefited from a wave of capital flowing into nontraditional vehicles—insurance-linked securities (catastrophe bonds and industry loss warranties) and collateralized reinsurance vehicles (sidecars)—noting that the capital pushed down prices for traditional reinsurance as well as nontraditional coverages.