- 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