Reinsurance

SIRC Connect

Reinsurers offer Nat CAT capacity but it comes at a price

In spite of the anxiety expressed at the SIRC last year about the possibility of turbulence during the January renewal period, it turned out to be a much smoother process when compared to the prior year, as the (re)insurance industry managed to correct its course. Nevertheless, significant Nat CAT activity in the MENA region in 2023 has led to tough renewal negotiations between reinsurers and cedants. Reinsurance rates are hardening, according to the reinsurers we spoke to.

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Long-term motor reinsurance capacity limited

Rising claims costs, weather-related losses and concerns over solutions for electric vehicles have contributed to limited long-term reinsurance motor capacity. Middle East Insurance Review spoke with Chedid Re’s Mr Elie Abi Rached and Howden Insurance Brokers’ Mr Sajith Kumar to find out more.

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