Aon Launches Reinsurance Market Dynamics June/July 2023 Report

Mid-year renewals showed a sense of order returning as pressure on pricing and terms and conditions eased somewhat compared to January 1.

Capacity was more readily available and some reinsurers showed a greater willingness to grow now that property catastrophe pricing is more attractive.

Aon’s Reinsurance Market Dynamics report includes commentary on:

•            Global reinsurer performance and drivers that increased capital by 5% in Q1

•            Investors’ view of the market ahead of January 2024 renewals

•            Q2 catastrophe bond deals with outstanding notional increasing by 8%

•            U.S. property cat risk-adjusted rate increases moderating compared to January 1

•            Australia and New Zealand showing double digit property cat rate increases

•            Demand expectations ahead of 2024 renewals

As the market moves to a more stable footing, there are a wide range of growth opportunities for insurers including casualty, intellectual property, mortgage re/insurance, facultative solutions, captives, legacy reinsurance and non-catastrophe covers. Read more on how to navigate these market conditions for a successful 2024 renewal.