Increase in reinsurance demand likely to favour top-tier
Thursday, 04 07 2016, Category: Insurance and Reinsurance, Country: World
Moody’s Investors Service underlined an increased demand for reinsurance from cedents in 2015 as insurers looked to improve efficiency and adjust strategies. However, any further uptick in demand is likely to favour the top-tier reinsurers, according to Moody’s.
Artemis discussed recently that reinsurance broker Willis Re noted an increase in demand for reinsurance at the April 1st renewals, as some cedents looked to adjust strategies, resulting in greater use of reinsurance protection.
With rates in the global reinsurance sector remaining under significant pressure, underlined by April 1st 2016 renewals being the fourth consecutive year of price declines, any uptick in demand will be welcomed news for those in the space.