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M&A levels have increased 23% year-to-date compared to 2023, according to Gallagher Specialty. -
Construction rates remain stable with some talk of potential softening.
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The marine market is challenged by global warfare, supply chain breakdown and the complicated energy transition.
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Treaty premiums have risen, while casualty premiums remain restrained.
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Legal trends, the primary pricing micro-cycle and other factors all play into an opaque outlook.
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Sources said that for reinsurers to meet this demand, they will need to get comfortable analysing and evaluating systemic and aggregate risk.
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Swiss Re, Munich Re, Hannover and Scor each have challenges that will influence their renewal behaviour.
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Negotiations are getting tougher, but overall market capacity is stable.
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The choice to build a reinsurance unit at arm’s length alleviates some financial strain.
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Reinsurers are high on their ‘redemption arc’. The question is – how long will it last?
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Smart-follow is creating a third tier of provider – the “lead follower” – but broader efficiencies must be achieved.
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Scor disclosed L&H troubles while Swiss Re continued reserving for US casualty.
