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The Willis Re International chairman says some carriers consider primary rate increases inadequate. -
The broker highlights increasingly discerning reinsurers pushing for rate.
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Christmas brings out the child in everyone.
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The Californian specialty property insurer's scaled-up programme provides coverage of up to $1.2bn for earthquake events.
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The broader retro market is renewing up by 10-30 percent depending on loss experience and structure.
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1 January renewal runs late as brinksmanship from cedants meets determination from reinsurers.
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The structure of the programme remains relatively unchanged, with new private placements.
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Yesterday we broke the news that Liberty Specialty Markets had pulled out of UK motor treaty, as signs gather that 1 January will reveal this to be a hard pocket of the market.
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Strong balance-sheet growth, marginal operating performance, favourable business profile and appropriate enterprise risk management were factors in the outlook.
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Carrier seeks to mitigate regulatory risk around motor and is likely to cut US med-mal exposure.
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Modest gains follow a broadly flat European cat treaty market for 1 January.
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Rates on North American property binders up between 10 and 25 percent depending on territory.
