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Combined with a challenging fundraising landscape that is likely to have led to investors cutting more deals, 2022 will be a year of fiscal pressure. -
The rating agency’s model update will increase focus on one-in-500-year PMLs
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Scor’s renewals update denotes a continued push to control volatility while Hannover Re is focused on growth.
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Resilience bonds attempted to link up financial goals that proved to be too mismatched.
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The impact of Hurricane Ida and other 2021 losses, compounding issues with the industry’s five-year track record, has shown up in the slide in assets under management.
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There is a lack of capacity for aggregate deals, and moves towards more named peril coverage.
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Retro renewals have made major progress in early January, but programme gaps remain at some levels, with reinsurers left carrying more risk net.
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ESG, non-catastrophe and rebuilding after personnel changes will be among the themes of the year.
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The dynamics that have pushed cedants and investors into the space will continue.
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Property cat rate increases this January were double those of last year and the highest since 2014.
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Some programs had to be restructured as rates hardened and capacity flowed away from cat risk in some cases.
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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.
