The geopolitical and macroeconomic shocks of the past year have led to a highly challenged and complex January 1 renewal period, according to global broking group Howden.
In its renewal report titled The Great Realignment, Howden noted how high inflation, interest rate hikes, depleted capital, fractured energy markets, the Ukraine war, and Hurricane Ian have coalesced to tip the reinsurance sector into “significant volatility,” resulting in “one of the hardest reinsurance markets in living memory.”
