Insight and Intelligence on the London & International Insurance Markets 24 Jan 2018
Reinsurers secure marine rate rises in 11th hour renewal
- 9 January 2018
Reinsurers were able to achieve modest rate increases on loss-free marine accounts at 1 January despite a growing consensus that third quarter cat losses had fallen short of early fears.
A canvass of the market placed rate rises on loss-free London market marine treaties at around 2.5 to 5.0 percent, with most towards the upper end of this range and a small number below it.
However, as with most other markets, there was a widespread perception that the renewal softened...
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