January renewals broke a ‘pattern of underpricing’: Greenlight Re CEO
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January renewals broke a ‘pattern of underpricing’: Greenlight Re CEO

Greenlight Re logo with Burton .jpg

Greenlight Re CEO Simon Burton has said property cat rates rose roughly 50% at January renewals while other classes including aviation, PVT and marine “commonly saw placements close at 25% rate increases”.

On a call with analysts, the executive added that for several years rate improvements haven’t kept up with the combination of frequent weather events, inflation, Covid and the war in Ukraine, but this trend ended in the recent renewals...

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