Private Capital News
The first feedback shared publically regarding the state of the insurance and reinsurance markets for the 1st January renewals has been from some of the larger brokers and was slightly cooler than most expectations. Against the backdrop of large natural catastrophe events late in 2018, including the Californian wildfires, and reduced capacity, especially as a result of the measures taken by Lloyd’s to improve market profitability for 2019, it was expected that the main reinsurance renewal date of 1st January would see rate rises. Feedback from the market is that the
We have been informed that two unlimited members have died since the end of the auctions, and that their capacity will be sold by private auction in the first week of January 2019, with final bids to be received no later than Monday 7 January at 2pm.
In total, there is slightly less than £600,000 of evergreen capacity available on 14 syndicates.