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Reinsurers fended off 20% cuts, but wildfires pleas failed to hold pricing flat. -
Some of the Big Four are slowing growth as the market softens.
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CUO Rachel Turk said some syndicates were showing a “mismatch” in ambition and strategy.
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The reinsurer anticipates downward rate pressure to continue over 2025.
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Reinsurers’ hopes that LA wildfires will slow 1.4 softening are in question.
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Island appetite remains stable, but early 2025 loss activity has injected fresh uncertainty.
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This year’s coverage will involve $2.94bn of new risk transfer.
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Some $4.8bn of reinsurance and cat bond limit will come up for renewal in 2025.
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Is the MGA start-up boom here to stay?
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CEO Alex Maloney said the LA fires might prompt some carriers to go more “risk-off”.
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The capacity arrangement with LRA also remains in place.
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The programme structure was expanded, but it is unclear what percentage was placed.
