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Review Holborn’s Mid-Year Placements Recap, Industry Intelligence & Analysis

Renewal Commentary

  • Across common mid-year renewal dates, Holborn tracks metrics relative to price change, market capacity, buying patterns, and the most aggressive reinsurers.
  • Following on January 1 conditions, major worldwide markets showed increased capacity across all placement types, with domestic U.S. reinsurers showing particularly well.
  • Pricing reduced 10% on average in core catastrophe and aggregate lines which dominate the renewal period.
  • A broad list of reinsurers were competitive in positioning for new or expanded participation.
  • Purchased limit expanded with most ceding company retentions remaining flat as more companies expanded limits than decreased.

Renewal Price Change

Capacity Offered at Order

Improving Terms and Conditions

  • Again, consistent with January 1 movements, reinsurers were more willing to give in terms and conditions than pure rate reductions.
  • Coverage improvements included:
  • Expansion in “hours” clauses
  • Cascading retention/dropdown features
  • Expansion in business covered