Your weekly re/insurance round-up

Reports from the critical Jan 1 renewals show "mixed outcomes" for reinsurers, Gallagher Re says.

Analysts at Guy Carpenter agreed the renewal period showed a "healthy but bifurcated" market.

The broker also reported that total dedicated reinsurance capital?grew 2.8% to $534bn?in 2021.

Similarly, Howden noted that the 1/1 period saw the risk landscape reshaped by?a series of 'megatrends.'

While overall rates are expected to?temper in 2022, some lines achieved?increases of 50% at renewal.

And Gallagher Re's James Vickers argues?reinsurer appetite for attractive business is undiminished.

What's more, KBW analysts believe rate increases signal?"dramatically improved" returns for reinsurers.

Among those to announce their renewal terms,?IAG secured $10bn of cat reinsurance?at a higher cost.

FEMA likewise?renewed its NFIP cover, securing $1.064bn of flood protection for a total of $171.9mn.

Re/insurers also took stock of Colorado's Marshall Fire this week, which?could drive $1bn of losses.

In other developments,?Zurich freed $1.2bn of capital?with the sale of a legacy life & pensions book.

MS Amlin returned to the capital markets?with a $37.5mn Asia-focused SPRV, Phoenix 2 Re.

And Fortitude Re has?formed a new Bermuda multi-line reinsurer, while also acquiring a US life insurer.

Finally, new Artemis data shows?cat bond & ILS issuance grew 15%?to reach $14bn in 2021.