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Carriers will be looking forward to the positive outcomes from the 1 January harder market, but results will provide clarity on lingering challenges. -
More quota share capacity was on offer, but reinsurers were still pushing to manage exposures through loss caps.
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Insurers are looking to buy fac protection to cope with increased retentions on treaty programmes, while exclusions around political violence could also boost demand.
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At least $7.8bn in reserves was transferred from the live market to legacy carriers last year, with Enstar the leading acquirer.
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Despite a cooling economy, cost of living pressures are keeping wage inflation and mid-pay employee pressures on base.
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Specialty reinsurers clamped down on Ukraine coverage at 1.1, with the one-year anniversary of the invasion threatening claims.
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Here we walk through seven themes of the market that will be drivers of change in the year ahead.
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Cedants are grappling with rising rates while coverage narrows.
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Cedants who came to market in Q4 settled for smaller tranche sizes in recognition of limited capacity.
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Reinsurers have successfully pushed hard on T&Cs but, as capacity begins to fall into place, there are still many unanswered questions for this renewal.
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The major trends and developments of the last 12 months in (re)insurance, in charts.
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The London market proved resilient in the face of twin shocks from geopolitical and natural disaster.
