Climate risk has once again been the catalyst for insurance and reinsurance market change. Major losses caused by extreme weather events in recent years
Global reinsurance market has faced a very late, complex and in many cases frustrating renewal 1/1 2023. Two areas of most constraint were peak-zone US property catastrophe
While insurers may have winced at the spike in property-catastrophe prices at the Jan. 1 renewals, the resulting rate hikes and new policy terms should spur investor interest
While there was sufficient capacity to meet the reinsurance needs of cedants at 1.1, it is also true that the amount of reinsurance capital being deployed was diminished in 2022