Rates
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The rate change will be implemented in November. -
The board of directors has voted for a 10% rate hike.
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Twia’s analysis showed existing rates were inadequate.
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The broker estimated ILS capacity reached a record $107bn as cat bond interest surged.
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The proposal now goes to the Florida Office of Insurance Regulation for review.
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The ratings agency noted robust profit margins for reinsurers.
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Top layer competition is an added pressure on ILS firms, but the impact can be overstated.
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The firm received a long-term ICR of a- and the outlook for both ratings is stable.
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European rates on line increased by 7.60%, while in the US prices were up 5.25%.
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The broker’s report also hailed the best risk-adjusted margins for ILS investors in a decade.
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The broker’s 1st View report predicted that cat bond issuance should remain elevated until at least Q2 2024.
Most Recent
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KCC pegs Hurricane Francine losses at $1.5bn
16 September 2024 -
Axa XL names Caponigro head of re capital management
16 September 2024 -
Hurricane Debby costliest weather event in Quebec history: CatIQ
16 September 2024 -
Monte Carlo smoke and mirrors especially hard to decipher this year
16 September 2024 -
Francine losses to be ‘manageable’, borne by primary carriers: AM Best
16 September 2024