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Retro rates rise up to 30% across cat loss affected accounts

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James Kent, global chief executive at reinsurance broker U.S.-based Willis Re Inc. said that rates in the retrocession market increased up to 15% across loss-free catastrophe accounts and up to 30% across loss-affected accounts at the Jan. 1 reinsurance renewals, Artemis.bm reports. Mr. Kent said that the underlying retrocession and reinsurance pricing remained mismatched. Most insurance-linked securities' players replenished lost and trapped collateral and a number of traditional reinsurers returned to the retro space which dampened the potential for price rises at the renewals, he added.

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