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17 January 2017

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Reinsurers no longer covering cost of capital: Bernstein

Catrin Shi 10 January 2017

Continued softening at the 1 January renewals suggests reinsurers are no longer covering their cost of capital, Bernstein analyst Thomas Seidl claimed in a note today.

Referencing renewal reports by Aon Benfield, Guy Carpenter and Willis Re, Seidl claimed non-proportional P&C reinsurance rates fell by an average of 6 percent at 1 January.

According to Guy Carpenter, property cat pricing decreased by up to 7 percent, Seidl wrote, noting that this was "considerably more resilient" than in the 2016 renewals,...


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