Renewals

Reinsurer appetite for aggregates begins to creep back in.

Overall, reinsurers accepted that rate cuts were still leaving them with strong margins.

Aggregates that are featuring in the reinsurance market are not the low-attaching ones of prior years, he added.

Sources agreed that to achieve growth, the focus is shifting from the US to SMEs in Europe.

The flat renewal follows a tripling of RoL on the programme last year.

The carrier increased specialty premium by 39% by the nine-month mark.

The reinsurer is planning to drop its cession rate from 40% to 30%-35%.

Some reinsurers are considering frequency protection products.

Aon executive Daniele de Bosini said reinforced infrastructure had mitigated the impact of recent disaster events.

The broker is discussing the potential for "smart frequency solutions" with reinsurers.

European storm Boris could have taken a much worse toll on (re)insurers, but improvements to infrastructure and underwriting standards made it less impactful than it could have been, Daniele de Bosini, strategic growth leader for EMEA at Aon reinsurance solutions, told Insurance Insider in a live video interview at Baden-Baden.

European property cat rates stabilised and, in some cases, decreased this year following corrections in 2023.