1.1 Reinsurance Renewals 2024: Stability Returns
After a challenging renewal season in 2023, the looming question in the run up to the 1.1 2024 reinsurance renewals was: will this year’s renewal season echo the market dislocation and hardness of the previous year?
In reality these renewals have been much more orderly, underpinned by a number of factors. Profitability and capacity were more readily available along with investor appetite coming back into the sector. In addition retrocessional capacity appears to have turned the corner.
Pricing, as always, was variegated according to line, region and loss experience but generally for these renewals the picture has been positive. Together with primary rate increases and declining acquisition costs these give ground for a greater degree of optimisim.
Of course, not everything was rosy. Geopolitical instability continues to play a big role in renewals programmes while the effects of climate change continue to grow in importance. Our report this year ‘1.1 Reinsurance Renewals 2024: Stability Returns’ covers the topics that have impacted this renewals season. Content includes interviews and contributions from key industry figures at AM Best, Aon Reinsurance Solutions, Gallagher Re, Guy Carpenter, Howden Tiger and Mosaic Insurance.