Rates

The ratings agency noted robust profit margins for reinsurers.

Top layer competition is an added pressure on ILS firms, but the impact can be overstated.

The firm received a long-term ICR of a- and the outlook for both ratings is stable.

European rates on line increased by 7.60%, while in the US prices were up 5.25%.

The broker’s report also hailed the best risk-adjusted margins for ILS investors in a decade.

The broker’s 1st View report predicted that cat bond issuance should remain elevated until at least Q2 2024.

Reinsurers are making some adjustments to secure target signings but appetite to grow is finely balanced.

Projected 2024 ILS returns remain historically high, but signs of increased appetite for top-layer cat risk and top-end retro raise questions over how long this will last.

Anticipations of a tug-of-war around a ‘flat to slightly up’ pricing renewal have indeed come to fruition.

Profits are expected to widen thanks to improved rates and higher average attachment points.

TWIA has raised its net operating expenses to $40.2mn.

E+S Rück said that natural disasters and persistently high inflation have again "taken a toll" on the German insurance industry.