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The company also procured approximately $180mn of incremental limit for earthquakes.
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Pockets of the distressed Florida market are still expected to face a challenging renewal, but much of the remediation was carried out last year.
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Reinsurers are still hoping to achieve double-digit rate increases, but brokers and cedants suggest this is unlikely against the context of strong reinsurance supply.
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Amid an April renewal that resulted in a slower pace of typhoon rate increases, ILS deals covering Japan have held up above historic lows.
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The personal and commercial lines book will be folded into recently-acquired Centauri Insurance.
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Event definitions were also tightened at renewals, the broker said.
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The carrier predicts Covid’s reinsurance impact will drive market hardening.
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The French reinsurer reported average treaty price increases of 7.8% in January and predicted rate growth through to 2022.
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The reinsurer was chasing a high 15% net return target but said lower demand and capital trapping made this unachievable
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The carrier maintains its 2021 profit forecast amid 8.5% 1 January premium growth.
