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Most forecasters predict below-average activity in the region – but opposing weather phenomena mean uncertainty is higher than usual. -
Even clean accounts in the admitted space are seeing rate increases of 15% year on year, while loss-hit accounts in Florida were slapped with a 100% rate increase for June 1.
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Early private deals have provided far more stability in this year’s renewal than last.
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Shifts in reinsurance appetite across the risk spectrum has squeezed out ILS providers in some cases.
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Softening cat bond rates are among the bearish signals for cat rates, but latent new demand and still-cautious supply should prolong reinsurer gains.
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Five counterparties account for almost half of all premiums ceded by a sample of major Floridian carriers, analysis shows.
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The pace of rate hikes will ease back from the 1 January reset as buyers seek to lock up capacity early after last year’s dislocated renewal.
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UBS previously explored setting up an ILS offering, but instead opted to offer other firms’ products.
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The asset class is finding favour particularly with allocators that have been watching returns play out over the long-term horizon.
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A trend for slightly riskier bonds has brought with it a rise in the absolute margin on offer.
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The cat bond market is thought likely to receive an outsized portion of any capital inflows.
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Beazley executives spoke of further growth prospects in the class, after its results revealed a 79% combined ratio for its cyber division in 2022.
