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Reinsurers in control in property market: JMP Securities

Posted On: Dec. 23, 2022 9:49 AM CST

Analysts at JMP Securities LLC said that reinsurers are in control of the property reinsurance market, with rate increases expected anywhere from 40% to 70% for property catastrophe risks, Reinsurance News reports. Supply and demand dislocations, inflation, and bond market performance, as well as reinsurers’ desires to reduce earnings volatility, have resulted in a market that is undergoing a structural reset and is in true hard market territory for the first time in over two decades.