Although considerable uncertainty remains over its ultimate cost, the COVID-19 pandemic looks set to rank among the re/insurance sector’s most expensive events, according to a report published by reinsurance broker Guy Carpenter. Not only does the pandemic have the potential …
Reinsurance coverage for the Florida Hurricane Catastrophe Fund will not be purchased for the upcoming hurricane season after overseers of the fund evaluated the market and found a lack of private capital availability. In a statement, John Kuczwanski, manager of …
Pricing corrections in the property catastrophe reinsurance market over the last few years have been localized and mitigated to some extent by sufficient levels of capacity, according to Guy Carpenter in its January reinsurance renewal report. As a result, pricing …
The January 2020 reinsurance renewals saw significant variation in pricing and capacity depending on geography, line of business, cedents’ loss record and client relationships, according to two reports published by brokers Guy Carpenter and Willis Re. Indeed, the market demonstrated …
Big insurance losses from hurricanes, wildfires and other natural disasters over the past two years are set to push reinsurance renewal rates higher in January, ratings agencies said. After falling for several years due to competition and fewer natural disasters, …
