The downgraded hurricane forecast comes after one of the most catastrophe-free quarters the US has ever enjoyed. Insurers there are expected to pay $US2.175 billion ($2.49 billion) for claims over the three months to June 30. Insurance service provider ISO says the six events recorded across 25 states represented the second-lowest number of catastrophes (for the second quarter) over the past 10 years.

That data has been one factor behind recent falls in catastrophe reinsurance prices for the south-eastern US. Last year’s disaster-free hurricane season and a new government-backed reinsurance pool in Florida have also helped reduce prices from the post-Katrina highs of 2005.

But the industry says prices negotiated in the May and June renewal period proved to be better than many had predicted. PartnerRe CEO Patrick Thiele says his company is pleased with the new rates. While lower, they remain well in line with PartnerRe’s long-term goals.

“The prices we were able to achieve on business were quite adequate,” he said.