Global reinsurers target cat rate rises
Thursday, 10 26 2017, Category: Insurance and Reinsurance, Country: World
The largest global reinsurance players are set to target any U.S. property reinsurance rate increases following the impacts of recent hurricanes and catastrophe losses on the sector.
In recent years, the big four European reinsurers and their global counterparts have been seen to pull-back from U.S. property catastrophe exposed lines of reinsurance business, to a degree, as the competition ramped up and pricing plummeted.
But now, with most analysts forecasting at least some increase in reinsurance rates across the United States, it appears that some of these global players are set to return to the U.S. market more meaningfully and are looking to underwrite larger portfolios at the next rounds of reinsurance renewals.