-
ESG, non-catastrophe and rebuilding after personnel changes will be among the themes of the year. -
The dynamics that have pushed cedants and investors into the space will continue.
-
Property cat rate increases this January were double those of last year and the highest since 2014.
-
Some programs had to be restructured as rates hardened and capacity flowed away from cat risk in some cases.
-
Many private deals featured in final renewals negotiations as overall cat risk appetite was cut back, with some ILS segments hard-hit.
-
As the renewal is expected to spill over into 2022, the two-speed market will put pressure on retro-reliant carriers.
-
Pricing was generally stable but investors are showing more aversion to specific climate-exposed perils, sources noted.
-
The shortage of sidecar capacity could have a knock-on impact to broader renewals.
-
Personnel turnover and ongoing redevelopment into new areas were the notable themes of the past 12 months.
-
1 January renewals are running late across the board as reinsurers hold out for improved terms, but the retro segment is the most challenged for capacity.
-
The topic of quota-share support is becoming all the more crucial because supply is shrinking at the same time as demand is rising.
-
Nearly three months on, the event still seems heavily stacked towards residential claims.
