HVRRF - Reinsurance Underwriting Uneconomical For Some Without More Rate Rises
There is a chance some carriers choose to exit certain parts of the reinsurance market if rates do not materially improve at the next sets of renewals in 2020, with some Lloyd's players in particular finding property catastrophe underwriting uneconomical currently.
Rates did not improve as much as some had been hoping at the January 2020 reinsurance renewals and with retrocession generally costing more this year some insurance carrier business models have become less tenable.
It's not just the cost of retrocession but also its availability and the types of coverage on offer that is