Most US cat treaty gaps closed despite ‘shrinkflation’ effect of 1.1
US cat treaty renewals made major strides in the final working days of the year, leading to a calmer environment than many had feared earlier in December – but pricing momentum remained strong as reinsurers dug in to realise notable gains on price, terms and attachments.
Specialty reinsurance renewals remained the furthest behind amongst the major 1 January renewals underway, but it was becoming clear that significant unbundling of risks was taking place, even if composite covers remain.
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