Analysts at KBW have reported that secondary perils that had previously been reinsured are now being “aggressively pushed back” toward primary insurers ahead of the January 1st reinsurance renewals.
KBW provided some comments on the state of the global reinsurance market heading in to the critical renewal period, after meeting with companies in Bermuda.
The main takeaway was that reinsurance renewal contract signings for January 1 are running “very late,” with only about 5% of the treaty market having reportedly cleared so far, versus the typical 60% for this point.
