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The company’s reinsurance spend as a proportion of earned premium rose to 33.3 percent – up 2 percentage points.
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Majority of Florida firm order terms hit the market, but many participants think capacity shortfalls are likely at current price levels. -
Citizens will be among the buyers to come late to market with its 2019 cat programme as reinsurers push hard for rate rises.
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The organisation results results of a survey which showed an average rate increase of 3.5 percent.
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The vast majority of business has still not been transacted owing to brinksmanship on both sides.
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The Q1 pricing report provides further evidence that carriers are pushing for rate and attempting to manage exposures as loss-cost trends bite.
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Insureds are resisting rate rises after another loss-free year for offshore wind risks.
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After the KRW storms of 2005, I remember interviewing a top reinsurance broker and making the casual remark that the major spike in property cat pricing must be making his bosses very happy. I envisioned bulging brokerage accounts and big bonuses all round at year end.
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The price growth momentum increased as the quarter progressed, the broker found.
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Reinsurers recognize the need for more rate for the risk being ceded, O’Donnell said on the firm’s Q1 call.
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How many times has the Lloyd’s market stood on the cusp of adopting some form of dynamic, modern risk trading platform only to lose its nerve?
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Sector posts profit in 2018 but mounting concerns mean challenges are on the horizon.
