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Occurrence retro rates are among the segments where rate pressure is abating, although the outlook remains somewhat opaque in a late renewal. -
The regulator says it wants a clear position on the issue as soon as possible after the Supreme Court ruling on the BI test case.
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Rates for listed companies continue to rise between 200%-400% amid hard market conditions.
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But the ratings agency warns that pandemic exclusions, along with legal disputes, are damaging the industry’s reputation.
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The reinsurer was placed under review in March amid turmoil in its management.
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Carriers have raised $19bn so far this year, with another $3bn in the pipeline, the broker says.
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The outcome of the appeal and a planned new BI test case will be significant for reinsurers.
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The appointment reflects a diversification push at the carrier.
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The broker will add a Belgian office alongside its London operation for post-Brexit trading.
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One top-tier broking source claimed that across the market, claims were being settled in two-thirds of the usual time.
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Based in Zurich, the former Schroders executive will become senior property underwriter for France, Benelux, Iberia and Africa.
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The regulator ordered potential rebates in June after deciding lockdown measures meant some contracts offered little value for money.
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