Rate rises fading as mid-year renewals
Friday, 05 25 2018, Category: Insurance and Reinsurance, Country: World
The pace of rate rises are fading as the all-important mid-year reinsurance renewal season approaches, leading analysts at Keefe, Bruyette & Woods to suggest that increases are expected to be lower than those seen in January despite the numerous loss-affected accounts that will renew and ongoing hurricane Irma loss creep.
KBW’s analysts join others in forecasting a less than impressive rate environment for the June and July 2018 reinsurance renewal season.
Having visited Bermuda recently, the analysts found that executives from insurance, reinsurance and broking firms all confirmed that “mid-year catastrophe reinsurance renewal rate increases are lagging January 1 increases.”