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The carrier says higher retro renewal costs will act as a counterweight to rising rates.
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Hannover Re's K sidecar includes exposure to the aviation market, but overall ILS participation in such risks is limited. -
The move marks the company’s fifth round of share redemptions since going into run-off.
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If reinsurers prevail in limiting insurers from aggregating BI claims, this will shield retro markets.
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Total insured losses are well up on 2019, but the severity of individual blazes is not likely to impact reinsurers extensively.
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Retro structural change will provide a lot of the gains in 2021, with trapping negotiations complicating the mix.
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Collateralised capacity will retain an important role in the retro niche.
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The carrier's Ada Re vehicle will join its Turing Re sidecar, but its capacity is not known.
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The CEOs of Aon Reinsurance Solutions, Willis Re and TigerRisk predict limited rate gains, but up to $10bn of incoming capital.
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A much harder retro market is driving reinsurance price increases.
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Having fuelled up on retro to grow, some carriers may need to focus on managing net exposures.
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The retro space is expected to move towards named peril covers as rates approach post-Hurricane Katrina levels.
