Rates
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The reinsurers point to falling interest rates and loss experience as the basis for further hardening.
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Lower capacity will have an effect, but the company hopes to avoid severe retro rate rises. -
Some fund managers were negative on the deal, given the continuing uncertainty caused by the Covid-19 pandemic.
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The company has requested state-wide changes to its multi-peril homeowners account.
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The Peter Scales-led vehicle is reunited with the private equity house.
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The CEOs of Aon Reinsurance Solutions, Willis Re and TigerRisk predict limited rate gains, but up to $10bn of incoming capital.
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The debate over how far Covid losses will escalate is not the only key to January renewal dynamics.
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ILS outperformed major financial benchmarks in terms of returns, Aon said.
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Covid-19 losses and other catastrophe events have exhausted the catastrophe budgets of many companies, the ratings agency said.
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Underwriting margins need to improve by as much as 7-12 percentage points to compensate for lower interest rates, the carrier states.
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As new PE inflows arrive in the sector, it remains to be seen how this will be matched on the ILS side.
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Coronavirus is just one factor driving rate increases, (re)insurers said.
