Prices & terms eroded at January reinsurance renewal
Thursday, 02 04 2016, Category: Insurance and Reinsurance, Country: World
Reinsurance firm PartnerRe noticed “further erosion of prices and terms, driven by an oversupply of capital” according to its President Emmanuel Clarke, as the reinsurer reported a decline in premiums of 5% at the January renewals.
Opinions on how bad the reinsurance renewals in January were seem largely to depend on the scale and reach of the company commenting, or the focus and lines it underwrites. For PartnerRe, which sits below the largest reinsurance companies in terms of scale, the pressure on terms and conditions appears more evident.