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Brokers expect strong competition at remote risk layers at the 1 January renewal.
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The broker said it expects strong ILS capital inflows to continue.
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Quick-moving cat risk trading may become more prevalent in the ILS market.
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Aeolus increased its participation on the program more than fourfold.
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The broker estimated ILS capacity reached a record $107bn as cat bond interest surged.
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The broker said high ILS maturities would boost cat bond issuance though the hurricane season would impact capital availability.
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The broker said the mid-year reinsurance renewals benefitted from “more than ample” capacity.
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Excess capacity rebounded in June 2023 after hitting a decade-low just 12 months earlier.
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The company increased its full year 2024 adjusted net income guidance.
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Top layer competition is an added pressure on ILS firms, but the impact can be overstated.