Retro increases pull ahead of underlying reinsurance gains
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Retro increases pull ahead of underlying reinsurance gains

New Orleans, United States. 30th Aug, 2021. A building in downtown New Orleans, Louisiana is destroyed in the aftermath of Hurricane Ida on Monday, August 30, 2021. Power was out in the city but the levees held, Photo by AJ Sisco/UPI Credit: UPI/Alamy Liv

Retro rate increases are outpacing treaty reinsurance gains expected from the 1.1 renewals, as carriers continue to move away from lower layer and aggregate risk.

With just four working days left this year, the chaotically late renewal has been heavy going, with multiple rounds of negotiation as cedants and reinsurers battled over the appropriate level of payback for Bernd, Ida and Uri.

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