Your weekly re/insurance round-up, ending January 6th 2023

Jan 1 renewals were characterised as?"tense" and "frustrating"?by analysts at Gallagher Re this year.

While some loss-hit cat lines saw?prices up +100%, wins may come at the?cost of client relationships.

But James Vickers suggests 1/1 marks a return to a dynamic in which?reinsurers drive primary behaviour.

USI believes property lines with a poor loss history could have?reinsurance rates hiked up to 150%.

At these levels, Howden notes that pricing is at its?highest point in a generation, while Berenberg agreed that reinsurers made?"significant strides."

Speaking to Reinsurance News, SiriusPoint's Ari Chester forecasts a?challenging year for the market.

And in the cat bond space too, data from Artemis shows that?investors secured higher pricing?in Q4.

In other developments, insured damages from Hurricane Fiona are now pegged at?over $800m.

Palomar detailed renewal terms for its reinsurance programs covering?California earthquake risk.

And RGA’s Anna Manning is to retire at end of 2023, with?Tony Cheng named as her successor.

Further senior moves were also announced at?RenRe,?Everest Re,?Everspan,?The Hanover?and?AmericanAg.

We’ll continue to update you with more coverage on the major developments from this week, while also keeping up with the regular news coming out of the re/insurance industry.

We hope all our readers stay safe and well this weekend!