Rates
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The early renewal approach has been met with opposition from Lloyd’s reinsurers. -
The US wind deal by the Nephila fronting partner comes amid a flurry of activity in the cat bond market in recent weeks.
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The move bucks the trend of cedants hiking spreads on their cat bonds to attract sufficient investor capacity this renewal.
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To what extent does the business opportunity for new start-ups rely on BI losses that the industry is vigorously rebutting?
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The capital raise boosted Fidelis’ share base by 45 percent of pre-transaction equity.
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Avatar has increased the spreads on its new Casablanca Re bond just a week after hiking them by 16-18 percent.
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Trading was brought forward this year and more cedants could head to bond market.
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RPP covers, previously dominated by ILS writers, were one of the areas in shortest supply.
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Property catastrophe reinsurance rates rose by 26 percent at the 1 June renewals, according to the London broker.
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Multiple carriers had to revise official terms to get programmes home as reinsurers held firm on price demands.
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The CIAB’s latest market survey also found carriers pushing for higher deductibles.
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Small increases on international cat treaties such as the New Zealand EQC are being welcomed by reinsurers, with US nationwide deals also rising by up to 15%.
