January reinsurance renewals running behind schedule

Bermuda-based Arch Capital Group Ltd. said that the January 2022 reinsurance renewals are significantly behind schedule as reinsurers and retrocession providers hesitate to commit capacity amid challenging market conditions, Artemis reported. Impacts of Hurricane Ida, more stringent terms and conditions and price hikes, higher deductibles, loss creep and uncertainty around retro availability are among the many factors that have slowed down the placement process.