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European property cat rates stabilised and, in some cases, decreased this year following corrections in 2023. -
Continental cedants are looking for support for third and fourth events.
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In Partnership WithEuropean casualty business is not exposed to the challenges of the US market, with its social-inflation pressures, Aon co-CEO of reinsurance solutions EMEA Tomas Novotny reiterated during a video interview with Insurance Insider at this year’s Baden-Baden conference.
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CEO John Doyle said global property rates were down 2% versus flat in Q2.
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Contrary to expectations that US casualty would dominate the conversations, Milton took the spotlight.
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Space insurers are running at a near-200% loss ratio after booking losses of over $1bn in 2023.
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M&A levels have increased 23% year-to-date compared to 2023, according to Gallagher Specialty.
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Treaty premiums have risen, while casualty premiums remain restrained.
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Pricing expectations are still not aligned on higher-risk coverage options.
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Reinsurers are high on their ‘redemption arc’. The question is – how long will it last?
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The ratings agency said the global reinsurance sector is in “an even stronger position than a year ago”.
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The rate change will be implemented in November.
