Global renewal rates for property catastrophe reinsurance saw a wide range of outcomes at the January 1st 2024 renewals, with non-loss affected accounts largely flattish, but loss impacted seeing increases of up to 30%, according to Guy Carpenter.
The reinsurance broker highlights a market where reinsurance underwriters were motivated and responsive to cedent needs, driving a better outcome than a year ago.
In rate movement terms, there was diversion across reinsurance classes of business, as well as within them, it seems.
