-
Reinsurers were more willing to support lower layers ahead of 1 July, the broker said. -
The broker said another strong year would drive pressure for “reasonably significant rate reductions” next year.
-
Mid-sized 2023-24 cat losses versus ready capacity held the market in equilibrium.
-
Challenges such as climate change and civil litigation remain troubling.
-
The ratings agency noted robust profit margins for reinsurers.
-
Self-insurance has taken $25bn more premium out of the market than five years ago.
-
The hard market has not burst the MGA bubble – and now interest is on the rise again.
-
From here on out, insurers will likely have to rely on the strength of their individual stories.
-
Prices for programs that renewed in both Q1 2023 and Q1 2024 decreased 15%.
-
Transatlantic competition, rising valuations and price undercutting set a challenging scene.
-
Retentions and coverage could be affected by future adverse claims trends.
-
The Corporation is walking a tightrope between encouraging further growth whilst maintaining discipline.
