June 1 reinsurance renewals expected down 3% to 5%
Thursday, 06 02 2016, Category: Insurance and Reinsurance, Country: World
Pricing at the key June 1st reinsurance renewal season is expected to decline by an average of 3% to 5%, according to data gathered by Morgan Stanley analysts from Bermudian reinsurance firms, and rates may now reach a floor it is believed.
With June reinsurance renewals pricing, terms and conditions largely fixed days in advance of the actual 1st June renewal date, Morgan Stanley’s analysts took a trip to Bermuda to discuss the outlook for the market with key Bermuda based reinsurers.
The June 1 reinsurance renewals feature a significant proportion of the U.S. and Florida property catastrophe reinsurance market annual transaction volumes.