Reinsurance Market Outlook: January 2021
Despite record-setting hurricane landfall in the U.S. and uncertainty about the impact of COVID-19 in some lines, the reinsurance market operated in an orderly and efficient manner for January renewals. Virtual market trading did not impact the industry’s ability to efficiently trade through the major reinsurance renewal date of the year. New capital raises and primary market pricing trends mitigated further market dislocation as renewals evolved through January 1 despite recent years earnings results, U.S. catastrophe loss activity and interest rate challenges for reinsurers.