Lloyd’s insurers take advantage of soft reinsurance
Tuesday, 01 19 2016, Category: Insurance and Reinsurance, Country: World
During a recent London market trip with management from insurers, reinsurers, and the Lloyd’s of London market, RBC Capital Markets heard reports of Lloyd’s insurers taking advantage of the soft reinsurance landscape at the key January 1st renewals.
The reinsurance market pressures that underlined the challenging operating landscape throughout 2015 persisted into the beginning of 2016, in line with brokers’ expectations.
The least severe declines of 5-7.5% in the U.S. property catastrophe reinsurance space were reported to RBC during its meetings, with reductions of 10-15% occurring throughout the rest of the world.