Reinsurance buyers secured significant price relief and improved contract terms during the January 1 renewals, as a surge in available capital shifted the market in favor of cedants.
The latest multi-billion offer from Zurich Insurance is seen as a tactical attempt to capture Beazley's dominant cyber franchise while testing the board’s resolve with a valuation lower than previous private...
Rating agency's shift reflects a market inflection point where record US$660bn in capital has restored buyer leverage and eroded the pricing power reinsurers enjoyed during the recent hard market.
Narrowing of the global protection gap was driven by heavy insured losses in the U.S. where insurance penetration reached 81%, but APAC disasters saw less than 10% of losses covered.
