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Buyers are out early ahead of a challenging renewal, with retro rate hikes set to outpace reinsurance increases.
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Contingency losses will result in a total loss and an increased renewal cost. -
Retro structural change will provide a lot of the gains in 2021, with trapping negotiations complicating the mix.
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The carrier's Ada Re vehicle will join its Turing Re sidecar, but its capacity is not known.
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The CEOs of Aon Reinsurance Solutions, Willis Re and TigerRisk predict limited rate gains, but up to $10bn of incoming capital.
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The debate over how far Covid losses will escalate is not the only key to January renewal dynamics.
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As new PE inflows arrive in the sector, it remains to be seen how this will be matched on the ILS side.
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Insurers need to “be ahead of the game” on rate increases, company officials told Trading Risk.
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The insurer had previously confirmed details of its $4.5bn treaty renewal.
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Coronavirus is just one factor driving rate increases, (re)insurers said.
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The carrier has reduced its frequency risk while lifting exposure to tail events.
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The utility spent 13% more to secure its insurance but cut back third-party cover to $870mn.
