Reinsurers will focus on deploying their capital in excess layers while shying away from aggregate covers of catastrophe risk in the wake of a challenging convective storm season.
That’s according to a Gallagher Re regional market survey ahead of the upcoming 1/1 renewals in 2024.
“Reinsurers are a little more selective about how they’re deploying their capital this year. Rather than providing aggregate covers for cat risk, they want to do it through different programs,” said Greg Moore (pictured), senior vice president and US Midwest property product leader at Gallagher Re.
