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Rate increases have accelerated further after major losses in 2023. -
Underwriters are pushing for rate rises, but competition is increasing.
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Strong reinsurance results have absorbed long-tail reserve charges.
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Investors are still keen on UK broking – but they may expect more for their money.
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Fragile supply chains are driving up costs.
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Being underweight US casualty gives the firm more room than peers to manoeuvre.
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Convective storms cost more than ever, but activity was not exceptional.
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Rates have fallen on the back of reduced deal flow in 2023.
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After HannoverRe announced a 2025 CEO transition, here is our last review on the company's successes and challenges ahead
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Sources said that the market was not sufficiently profitable to concede ground on pricing.
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The 1 January renewals featured a significant shift away from mainstay quota share and aggregate coverage, with examples including Axis and Brit dropping specific stop-loss covers.
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Key market participants hailed the narrowing of the gap between PV insurance and reinsurance, however said that more still needs to be done to fix the market.
