HVRRF - Trapped ILS Capital And Lack Of Retro Not As Big A Renewal Issue As Expected
As the January 2020 reinsurance renewals fast approached, the two issues of trapped ILS capital and dented retrocessional capacity proved not to be as big or impactful as anticipated, with the market still managing to clear, partly thanks to the increased appetite and re-entry of large traditional players.
The January 2020 reinsurance renewals started off particularly slowly, with the markets holding back bids and some early placements struggling, particularly in severely loss affected regions or on aggregate retrocession layers or programs.
Everyone had been anticipating a challenging renewal, but perhaps more challenging that it actually