A Transitioning Reinsurance Market Responds to Cedents’ Increased Demand Through Mid-Year 2024
Mid-year renewals reflected a transitioning reinsurance market meeting demand in a dynamic trading environment. Loss-free property programs saw easing of pricing, even as demand increased. Casualty renewal outcomes varied by sublines as well as reinsurance type. General liability and excess/umbrella placements that are US exposed experienced continued reinsurance pricing pressure for excess of loss programs, while quota share outcomes were tied to the amount of adverse development.
The preliminary mid-year Guy Carpenter US Property Rate on Line Index is near flat year-on-year.