News Reinsurance06 Apr 2021

Southeast Asia:Capacity dampens price increases in regional retro segment - Willis Re

| 06 Apr 2021

Significant capacity was deployed in the Regional / Multi-territory Retro market in the region stifling previously anticipated price increases in the 1 April renewal period, says Willis Re in its latest 1st View renewals report.

Commenting on property reinsurance renewals, the April 2021 edition of the report also says that pro rata capacity remained tight but was unlocked in most cases but only after further tightening of terms.

Loss free excess of loss programmes in Southeast Asia saw average firm order term risk adjusted increases of +2% with a range of -10% to +10% in April.

As expected, Communicable Disease and Cyber exclusions remained the focus. Buyers were more receptive given the experience gained at the 1 January 2021 renewals.

Similar levels of limit were purchased compared to 12 months ago.

Buyers remained focused on earnings stability with more appetite seen for structuring options at the high rate on line lower layers.

 

 

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