Rates
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Participants predicted the rate pressure that has been centred on Japan and Florida would have a broader spill-over next year. -
The CEO was speaking as Aon launched a new auction platform in Monte Carlo.
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Rewind a few years and “hot money” was one of the pejorative labels thrown at a burgeoning ILS sector.
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Trading Risk looks at the dominant themes that the ILS market will be discussing at the 63rd Monte Carlo Reinsurance Rendez-Vous in September.
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The ratings agency also raised concerns about the long-term stability of the reinsurance market.
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The start-up fronting and risk sharing carrier was given a preliminary A- rating in March.
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Improvements to models and peril exclusions are expected to encourage growth once losses have been settled, the ratings agency said.
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Non-renewals initiated by insurers surged by 10 percent in the areas of California worst affected by wildfires between 2015 and 2017.
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The market is seeing substantial rate rises as more business flows in from the admitted market.
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Since the 2017 and 2018 California wildfires reinsurers have become increasingly cautious of the risk, the rating agency said.
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Axa XL cut back revenues on property cat reinsurance business by 7 percent in H1.
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The carrier has meaningful available capacity to deploy, according to CFO François Morin.
