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The cat bond market is thought likely to receive an outsized portion of any capital inflows. -
CEO Locke Burt said Florida reforms would be “transformational” and that investors had become more receptive to cat risk owing to higher rates.
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The US mutual cut back its 1.1 reinsurance program, according to sources.
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The ILS manager’s analysis highlighted that Lloyd’s nat cat exposure had lowered over the six years to 2021.
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The carrier has upped its global all-perils cat coverage to $1.2bn since January last year.
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The capital management platform remains active but January renewals were fronted by the balance sheet.
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The reinsurer noted “buoyant” conditions in the cat bond and private reinsurance segments.
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The carrier has increased its retro capacity by 56% to EUR1.34bn.
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The carrier said it achieved average risk-adjusted price increases of 30% on cat business.
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The organisation is preparing its reinsurance placement based on the increased exposure numbers.
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Rate increases achieved at 1 January will help carriers keep pace with inflation, the agency said.
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The carrier has renewed two of its quota shares with continental reinsurers with final negotiations underway.
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