8 January 2019 13:30
Despite a growing pressure on the reinsurance market, rates have generally been stable during the round of renewal of the treaties of the 1st of January, according to an analysis of the firm’s reinsurance JLT Re. Only a few sectors which are particularly affected by high losses, or in which the results have deteriorated have experienced a rate increase, says the firm.
This situation defies the predictions hasty that provided for a strengthening of the market for a second year in a row, says JLT Re. Indeed, an increase in the loss ratio and the frequency of large losses among reinsurers of damages american has left suggest signs of a strengthening, adds the firm.
“Despite everything, the desire and ability of reinsurers to underwrite risks have remained generally healthy. Market conditions, however, deteriorated in some regions, due to the moderate appetite of reinsurers and the increase in the demand for business classes, who have suffered considerable losses or the performance of which has deteriorated in recent years, ” write the authors of the report.
Between 50 % and 60 % of reinsurance treaties expire on January 1 of each year.