Rates
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Willis Towers Watson put the increase at 4 percent whereas the CIAB reported a 2.9 percent uptick. -
In a note to investors Matt Carletti ranked catastrophe aggregate programmes as being set to see the largest price rises.
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The insurer pinpoints that aggregate transactions and structures exposed to perils with less robust catastrophe models will be most affected.
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The insurance premium on the EUR45mn ($51.5mn) Italian multi-peril Atmos notes settled 12.5 percent above initial median targets.
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The JLT index is below levels recorded in 2016 and around 30 percent below 2013 benchmarks.
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A key question is whether retro dislocation will spill over into reinsurance renewals.
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In the US, renewal results varied widely and wildfire losses were a subject of focus.
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Spreads on the health insurance cat bond have dropped, but still above the record low level on the 2018 deal, according to sources.
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The broker said deployable ILS capacity could become more broadly constrained, but equally there were signs capital could increase.
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As less ILS capital was available at 1 January, retro rates rose by up to 35 percent on loss-hit deals, the broker said in its 1st View report.
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Quota share and aggregate retro remain the most disrupted pockets of the market ahead of the January renewals, as underlying reinsurance looks flatter.
