Guy Carpenter’s David Priebe, Chairman, joined Mark Geohegan, host of The Voice of Insurance podcast, for a panel discussion concerning the January 1, 2023 reinsurance renewal period.
“The 1/1 renewals were tenacious, frustrating at times and very challenging,” David said. “It was quite the process. Cedents and reinsurers worked to try to find a new market equilibrium in what was a late and disjointed process.”
“The market started to align around the Christmas break,” he continued. “The quantity of previously un-messaged subjectivities, in particular, pushed signings to the last minute, as negotiations with 1 or 2 reinsurers could hold up the whole process. But we got there in the end.”