Panel concurs rates softening.(International)(views of insurance experts at the seminar hosted by Jardine Lloyd Thompson Group P.L.C)

Byline: SARAH VEYSEY

LONDON-Rates are softening in many property lines, and the insurance industry has a lot of new capacity, but underwriters are under pressure not to write purely for premium volume, a panel of experts said.

It remains to be seen whether that discipline will be exercised and what form future cycles might take, the panel said at a seminar hosted by broker Jardine Lloyd Thompson Group P.L.C. in London earlier this month.

"Overall, prices appear to be peaking in most lines,'' said Trevor Moss, head of European research at HSBC Holdings P.L.C. in London. But while rates are falling in some property lines, they continue to climb in …