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The executive has become a partner in the broker’s structured solutions team.
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The expansive broker sees an opportunity in a highly consolidated reinsurance market. -
The broker reports mid-single-digit to low-teen rate growth on non-loss-impacted US programmes.
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New capacity did not have a major influence on the outcome, but greater rated paper interest and a drop-off in demand kept rate increases more manageable than feared.
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Retro rates are at an eight-year high, according to the broker.
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Reinsurers achieved limited price increases in the late and complex renewals.
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The broker’s 1st View report said rate change may have disappointed some reinsurers but remediation focused on specific stressed pockets of business.
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Key themes included new capacity, a more buoyant retro market than expected, drawn-out amendments to exclusionary wordings, and quota share demand.
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Loss-free accounts are repricing by high single digits but the real battle is over terms.
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Founding CIRCA members include Greenlight Re and Barents Re, as well as Knighthead and Nassau Re, whose senior executives take chair and vice chair roles.
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The Arch Worldwide Insurance chief will take up the new position on 1 January.
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Specific hopes may vary by company type, but one theme resounds for us all.
