We recently published the results of our latest global reinsurance market survey, in which we polled market participants on the state of the market as the mid-year renewal season fast-approaches.
The survey, undertaken in collaboration with insurance-linked securities (ILS) focused sister-site, Artemis, includes responses from hundreds of identifiable market participants.
A particularly interesting finding from the survey showed that roughly 42% of respondents are more likely to buy about the same amount of reinsurance at the mid-year renewals.
At the same time, 29% of respondents said that they would buy a little bit more at the renewals, while more than 6% would buy significantly more.
However, 12% of respondents said that they would buy a little less, while 10% said that they would buy significantly less.
The results from our market survey in H2 21, however, showed that 48% of respondents were expecting to buy the same amount of reinsurance, while 35% expected to buy a little bit more.
Another interesting finding from our survey highlighted that buyers of reinsurance and retrocession are more open to using insurance-linked securities (ILS) or other third-party capital backed products at the renewals.
35% of our respondents said that they would use a little bit more ILS or third-party capital backed reinsurance and retrocession, while 38% said that they would use the same.
10% of our respondents also said that they would use significantly more, while 9% said that they would use a little less, along with 8% who said that they would use significantly less.
In positive terms, this data from our survey suggests that reinsurance and retrocession buyers are becoming increasingly inclined to add more ILS or third-party capital to their programs this year.
We’ve made the full results of this global reinsurance market survey freely available to our readers and we’re happy to discuss the results with industry participants and to discuss sponsorship enquiries from those looking to raise their profile in the reinsurance sector.
