While reporting a strong January 1st 2024 reinsurance renewals, at which it grew its premiums written by 38%, pure-play Bermuda reinsurer Conduit Re has also highlighted some signs of the moderating market environment in US property risks, particularly in excess-of-loss (XoL) business.
Conduit Re this morning reported strong growth, as it grew written premiums at the January renewals by 38%, while securing a 3% risk-adjusted rate increase.
The company grew its property reinsurance book by 58% in premiums, while rate increases for this segment were 5%, risk-adjusted and taking into account inflation.
