Late start for retro renewals as earnings capacity set to dry up
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Late start for retro renewals as earnings capacity set to dry up

Dry creek water drying up.jpg

Reinsurers had to start weaning themselves off earnings protection retro covers when Markel Catco halted underwriting in mid-2019 – but this year seems likely to force more of a cold-turkey withdrawal of cover onto retro buyers.

The retro renewals are still barely underway, with only a handful of submissions out and companies like Scor that would usually be pricing their covers by now still awaiting quotes.

But

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