Psychological shift has driven over-subscriptions: Gallagher Re’s Wakefield
Gallagher Re CEO Tom Wakefield has said that over-subscriptions on cat reinsurance programmes have been driven by a psychological shift among reinsurers, with the potential for sign-downs to leave excess capacity in the market in 2024.
“[Reinsurers] always had the capital but they didn’t have the appetite for the volatility,” he said, referring to market dynamics a year ago.
Uncover exclusive insights tailored for insurance leaders
- Stay Informed: Access exclusive industry insights
- Gain a competitive advantage: Hear first about tactical developments
- Make better decisions: Understand market dynamics in crucial lines of business