Treaty Reinsurance
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Analysis of 2023 statutory data shows that Californian insurers are leaning more heavily on reinsurers but at a nationwide level, premium cessions were more stable. -
The bridge disaster added 6.3pts points to the company’s overall CoR in Q1.
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Rates are still materially higher than pre-pandemic and lower layers are holding firmer.
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In certain classes like energy or cat, AIG switched “a bit” to XoL from quota share.
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The 100% equity award will vest in full after five years.
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The carrier of last resort is proposing total risk transfer of $5.5bn.
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The broker attributed increased capacity to improving profitability.
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Reinsurers have a "strong desire" for growth, but not at the expense of underwriting.
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Negotiations around US casualty and financial lines were more stressed.
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The market is shifting towards capital relief, with fewer, larger deals.
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This year, the association’s funding will come to $4.05bn with a $2.45bn retention.
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The former MS Re CUO brings over 30 years of industry experience.
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