Renewals

Navigating a tighter reinsurance market…

After a benign first half of the Atlantic hurricane season, the mood music from last month’s Monte Carlo Rendez-Vous had signaled that upcoming reinsurance renewals would likely follow the pattern seen in 2024, with moderate softening in the 5-10 percent range.

SageSure upsizes Gateway Re cat bond by 78% to $355mn

Property cat specialist MGU SageSure and the SureChoice Underwriters Reciprocal Exchange it launched in 2021 have secured $355mn of cat bond coverage, as the latest Gateway Re transaction upsized by 78 percent from the $200mn initially targeted.

MGAs face uncertain 2023 cat renewals amid PML cuts and flight to quality

MGAs and program administrators with property cat exposure are facing a challenging outlook as capacity providers including insurers, fronting carriers and reinsurers regroup post Ian and look to cut exposure from their portfolios and selectively deploy their risk capital in 2023.