Analysis

In 2022, the NFIP placed reinsurance with 28 private companies - including 13 Lloyd’s syndicates.

As it became clearer that the Fort Myers area was facing 150 mph winds, sources started to talk about loss estimates with a $30bn floor.

Research by sister title Inside P&C shows the top three homeowners carrier exposures by county for forecast highest impact areas.

Inflation and reinsurance costs are among the key challenges that marine underwriters face.

Cat 4 Hurricane Charley made landfall on Florida’s west coast in 2004, while Tarpon Springs (1921) was the last major storm to hit Tampa.

Reinsurers are better positioned to face this storm from a financial point of view – to Florida state’s detriment – but how capital providers will react to a loss is the wildcard.

Inflation will define priorities such as a focus on safeguarding clauses and pricing transparency, as well as line of business challenges, for underwriters and actuaries in the year ahead.

This publication’s review of H1 disclosures shows how listed (re)insurers’ nat cat losses have tallied with aggregate projections.

Sources said that some entities were exhibiting “sheer desperation” to hit 2022 plans, driving down prices.

How much capacity is available to meet rising cat reinsurance demands was a key theme throughout this year’s Rendez-Vous.

Political violence reinsurance capacity will be a “precious commodity” at 1.1 but differences remain over how much restructuring of specialty composites should occur.

Negotiations may focus on attachment points and the extent of double-loading for inflation.