Global broker Aon does not expect a bounce in global property premiums next year, amid strong earnings, frugal exposures and rating agency pressures.

Aon is predicting premium cuts of up to 10% in 2008 among high-end lines. Smaller accounts - below $US10 million ($11.18 million) in premium - will also fall, but to a lesser extent.

Aon National Real Estate MD Richard Miller and National Terrorism and Property Resources Director Aaron Davis say the industry has replenished its coffers since 2005 and is operating at a combined ratio of 92%.

Also, pressure from rating agencies has prompted insurers to better manage their risk book. Aon says the industry could withstand a one-off $US30 billion ($33.54 billion) event without the price cycle being affected.