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Reinsurers continued to diversify into primary and specialty business.
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Will Curran joined the Lloyd's syndicate earlier this year.
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The insurer said once firms give up lower attachments or aggregates they “simply do not get them back”.
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4809 Broker’s client base includes reinsurers, banks, funds and PE firms.
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The carrier continued to expand in property and specialty, especially non-cat exposed business.
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The property market remains “one of the most favourable... I've seen in my career", he said.
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The broker warned that D&O and P&C policies could also be impacted by the outage.
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The carrier purchased an additional $150mn of cover.
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This publication has reported several exits from the carrier’s Lloyd’s operation.
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Reinsurers were more willing to support lower layers ahead of 1 July, the broker said.
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The broker said another strong year would drive pressure for “reasonably significant rate reductions” next year.