Rates

Early private deals have provided far more stability in this year’s renewal than last.

Softening cat bond rates are among the bearish signals for cat rates, but latent new demand and still-cautious supply should prolong reinsurer gains.

The pace of rate hikes will ease back from the 1 January reset as buyers seek to lock up capacity early after last year’s dislocated renewal.

Capital has begun to flow again after a challenging time for ILS fundraising in 2022 – but there is a clear shift underway.

The recommendations await approval from the Florida Office of Insurance Regulation.

Reinsurers are also increasing their attention on per-risk contracts protecting Japanese interests abroad.

A trend for slightly riskier bonds has brought with it a rise in the absolute margin on offer.

Hamilton Re said early signs point to 25%-30% rate rises on Japanese wind.

This was the highest single-year increase for the US index since 2006.

This price hike contributed to a premium increase of $695mn in the month, bringing the year-to-date impact of 2022 rate increases to $3.6bn.

High-yielding alternatives are taking away attention from this sector, with its complex narrative around recent losses, and diversification only goes so far in selling its story.

Expansion is set to be a trend across Lloyd’s as syndicates look to capitalise on a hardening market.