Treaty Reinsurance

Well-priced top layer cat risk is in demand, leaving reinsurers watching the market carefully for any signs of decline.

The lack of momentum reflects on a general belief that underlying casualty business is well-priced for current years.

The need to recognize adverse development in the back book is the most plausible culprit for market behavior, and an escalation of rhetoric.

Insurers should reserve as conservatively as possible, maximize their product set, and decide if they are buyers or sellers.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Carriers have been dealing with elevated storm activity this year, whilst additional purchases to match inflating values had largely been parked in 2023.

Cedants and brokers are navigating the complexities of varying risk appetites signaled by reinsurers, who are willing to provide more capacity for cat treaty but only at certain layers as they maintain discipline.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

The event cost the carrier $66mn, including $14mn related to reinstatement premiums on its catastrophe treaties.

The executive brings more than 25 years of global reinsurance broking experience to the new company.

Pennsylvania Lumbermens Mutual expects to face higher rates and tighter terms and conditions at the upcoming January 1 reinsurance renewals.

Inside P&C’s morning summary of the key stories to get you up to speed fast.