Reinsurers expect much of the same at January renewals
Monday, 12 14 2015, Category: Insurance and Reinsurance, Country: World
Absent any significant catastrophe events, insurers and reinsurers will see “much of the same” during the next 12 months, as continued pressures from alternative capital, excess traditional capacity, high competition and low losses, result in rate declines and a continuation of the buyers market we see today.
With the key January reinsurance renewal season just around the corner, insurance and reinsurance analysts’ and experts’ predictions for the coming year are starting to filter through and, Wells Fargo states that for 2016, it “expects much of the same.”
A key market trend of 2015 was the persistent flow of alternative reinsurance capital into the market, growing its share of the overall market capacity to approximately $68 to $70 billion.