Rates

The first-time ILS sponsor expects to pay a coupon at the lower end of its initial forecast.

Pockets of the distressed Florida market are still expected to face a challenging renewal, but much of the remediation was carried out last year.

Spreads have fallen 14% on a weighted average basis on new deals marketed in the quarter to date.

Cat bond market exuberance seems to be mismatched against overall ILS sentiment.

The French carrier grew its top line by 14.3% at the April renewals.

The market has reached the stage of price hardening at which clients will challenge brokers and carriers on continuing increases, according to Aon president Eric Andersen. 

Christopher Swift says more rate is needed in some areas including the London market and certain excess lines.

Assets under management at the sidecar rose 12.5% year-on-year to $900mn by the start of 2021

The carrier predicts Covid’s reinsurance impact will drive market hardening.

The carrier maintains its 2021 profit forecast amid 8.5% 1 January premium growth.

The intermediary cited Convex and Vantage among new entrants adding capacity to the market at the renewal.

Property insurance rates are rising by high single digits to 15% on clean accounts.