Treaty Reinsurance
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The reinsurer said the deals would enhance its abilities to provide innovative solutions for clients.
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The year saw a substantial uptick in natural disaster losses compared with 2020 and 2019.
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Inside P&C’s news team runs you through the key developments from the last week.
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The broker and ratings agency AM Best said total deployed capital grew 2.7% in 2021.
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The broker’s property cat RoL index jumped by almost 11% as capacity was more constrained for retrocessional and frequency-exposed property treaties.
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Property deals got done with rate uplifts, private placements and buyers leveraging profitable long-tail lines deals, but many reinsurers were disappointed by the overall scale of improvement in property.
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The company also completed this year its first significant casualty placement, a European cedent placement and several loss-making renewals.
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Deals for CNA, Zurich, AIG, Sompo and Axa XL highlight the intense demand among reinsurers for casualty and professional liability pro rata business.
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The BMS meteorologist said early data indicated “truly historic outbreak”, and that similar events typically cost the industry in the low-single digit billions of dollars.
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Aon’s cyber chief said capacity will be available to insurers who perform well on profitability, rate change and underwriting strategy.
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Inside P&C’S news team runs you quickly through the key developments from the last week.
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Increasing cat costs will drive the focus on modelling and price adequacy, the intermediary said.
