Rates

S&P Global Ratings has forecast that there will be double-digit rate increases in Puerto Rico and Florida this year, following last year's hurricanes.

Aetna Life Insurance's $200mn Vitality Re IX cat bond has priced at a record low with both tranches of the deal settling below the initial guidance, according to sources

Convergence reinsurance capital rose by 9 percent throughout 2017, from $75bn to $82bn, Guy Carpenter said in its January renewals report.

A smooth reloading of ILS capital and a glut of capacity contributed to catastrophe reinsurance rates rising by less than reinsurers had pushed for following last year's losses, brokers said in early post-renewals reports

The momentum for retro rate increases at the January renewals slowed at the end of last year, sources said, as lack of new demand and a smooth reload of lost capital meant increases fell short of expectations

Cat bond volumes reached $11.1bn in 2017, according to Trading Risk records, as new sponsors Validus Re and Covea wrapped up fourth quarter deals in a record year for issuance

I took a three-week holiday in the sun in December - not the sort of thing you want to go bragging about in the reinsurance market when many people are working late nights in the run-up to the 1.1 renewals

Did the reinsurance market get served a half-empty or half-full glass at the January renewals?

JLT Re said risk-adjusted global catastrophe rates still lagged below 2016 levels after the broker's global rate-on-line index rose by 4.8 percent at 1 January, in the first increase since 2012.

Willis Re said that global catastrophe reinsurance pricing ranged from flat to up 7.5 percent year-on-year at the January 2018 renewals, as reinsurers were rebuffed in their attempts to seek more meaningful increases.

AM Best has said that the record insured losses from the October fires in the wine-producing area north of San Francisco were "within insurers' risk tolerances" and that carriers hit by California wildfire claims would not face ratings actions

Validus Re's first cat bond has priced significantly below the initial marketed target range despite the recent HIMM losses