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Axa XL’s UK and Lloyd’s CEO said speed of decision-making was key to UK market growth. -
The insurer increased its occurrence treaty coverage by $300mn as the aggregate deal shrank, following a full loss to reinsurers in 2021.
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The firm said its preference for single class exposures had constrained growth in specialty lines as brokers sought to push different classes together in combined programmes.
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The industry is expected to improve its return on capital slightly in 2022.
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Richard Pike joins Howden Re from Berkley Re, where he was responsible for regional ceded reinsurance.
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Both pricing and terms improved in most of its core market, with the firm's year-on-year renewal net rate change for 1.1 business estimated to be +5%
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Retro renewals have made major progress in early January, but programme gaps remain at some levels, with reinsurers left carrying more risk net.
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The French reinsurer’s vehicle has renewed for the fourth consecutive year.
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The Swedish pension fund will participate in Swiss Re’s natural catastrophe business.
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The reinsurer said the deals would enhance its abilities to provide innovative solutions for clients.
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Inflationary pressure and climate change meant the market effectively gave ground to cedants despite nominal price rises.
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The year saw a substantial uptick in natural disaster losses compared with 2020 and 2019.
