Scarce retro quotes, huge rate hikes likely to delay reinsurance renewals

The January 2023 reinsurance renewals are likely to see significant delays, as quotes are scarce, especially in the retrocession segment due to a lack of available capacity, trapped collateral and reduced appetite for risks, Artemis reported. Furthermore, many retro renewals are indicating 60% to as much as 100% hike in rates, which could limit retro capacity.