Global reinsurers’ appetite rose for property catastrophe during the upcoming January renewals, which have seen risk-adjusted reinsurance rate reductions of 5%-15% for loss-free accounts, according to a renewal report published by Guy Carpenter, the reinsurance business of Marsh McLennan.
Property catastrophe renewals were consistently oversubscribed as reinsurer appetite increased by 10% to 15%, while Carpenter estimated that demand on