LONDON, July 1 (Reuters) - Global property catastrophe

reinsurance rates ranged from being unchanged to falling by

"mid- to high-single-digit" percentages in July, reinsurance

broker Guy Carpenter said on Monday, following years of

rising rates.

Insurers tend to renew their reinsurance contracts on

specific renewal dates, including on July 1.

Reinsurance - insurance for insurers - in Florida,

California and other areas prone to natural catastrophes like

hurricanes and wildfires has risen sharply in recent years due

to heavy losses, partly as a result of climate change.

The high prices have boosted reinsurers' profitability,

giving them scope to reduce rates this year, said Lara Mowery,

global head of distribution at Guy Carpenter.

"Pricing is adjusting to the new environment."

Insurers often pass changes in reinsurance pricing onto

their corporate and retail customers.

The price reductions come despite nearly $50 billion in

global catastrophe insured losses in the first half, 8% above

the five-year inflation-adjusted average. U.S. severe convective

storms were the main driver for the losses, Guy Carpenter said.

Catastrophe bonds, a way for institutional investors to get

exposure to catastrophe risk, had a record first half of $11.9

billion in issuance, Guy Carpenter said. Catastrophe bonds

generally pay a good return but do not pay out if a specific

catastrophe is triggered.

Reinsurance broker Aon also said that property

catastrophe reinsurance rates fell for U.S. national and Florida

specialist insurers during the mid-year renewal season.