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Wind XoL rate increases are tapering off, while cedants push for commission increases on quake quota-shares. -
Scor said it had purchased the same retro limit as it had last year while managing “contained” price increases, as it cut back its catastrophe exposures.
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RenaissanceRe had raised $470mn for the high-risk fund platform a year earlier.
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The industry is expected to improve its return on capital slightly in 2022.
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The French reinsurer’s vehicle has renewed for the fourth consecutive year.
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The Federal Emergency Management Agency trimmed its spend on the program by 12%.
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Many private deals featured in final renewals negotiations as overall cat risk appetite was cut back, with some ILS segments hard-hit.
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As the renewal is expected to spill over into 2022, the two-speed market will put pressure on retro-reliant carriers.
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The shortage of sidecar capacity could have a knock-on impact to broader renewals.
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This year, instead of talk about running late, people were highlighting how the starting gun has barely been fired.
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The retro renewals are barely underway, as a challenging fundraising environment and queries over loss experience has delayed the typical pace of progress.
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Its reinsurance premiums ceded are expected to reach $207mn, up from $175mn a year earlier.
