Author: Mark Hubbard
The Property insurance market entered 2023 in the wake of a very challenging 1.1 Treaty renewal season. As a consequence of the changes in treaty reinsurance, we will see this influencing insurer behaviour, appetite, and the market’s renewal offering.
For many US clients, it will be their sixth consecutive renewal rate increase, with premiums being further impacted by inflation to property valuations.
In terms of treaty reinsurance availability and purchasing, insurers have been impacted by major changes in the treaty reinsurance world, as a consequence of many years of unprofitable and/or underperforming results.
In this Market update, we provide regional commentary on:
- North America
- Caribbean Islands
- Asia
- South & Central America
- Europe
- Australia & New Zealand
- Middle East
