It’s an understatement to say that 2020 has brought new risks to the forefront for insureds, while introducing new challenges for the re/insurance industry. However, over the past tumultuous 12 months, the reinsurance market has been able to find opportunities to develop business and stay on course.
That’s not to say that the past three years leading up to the pandemic have been smooth sailing. In fact, the reinsurance marketplace has been through a significant evolution during this period that prepared it to weather the storm in 2020 and beyond. Back in 2017, for instance, carriers believed that there was an unlimited amount of capital in the reinsurance market.