Market hardening at 1.7 takes retro yields back to 2014 levels The rate increases were less differentiated than the 1 June Florida rises.
DE Shaw puts down $121mn on Citizens reinsurance cover The hedge fund’s participation drove an overall increase in ILS use by the Floridian insurer for its 2019-20 programme.
Citizens’ private reinsurance spend settles at $94.9mn for 2019 The insurer paid a rate on line of 11.25 percent for its new personal lines cover.
‘Land grab’ for retro cover as capacity locks up Rates are believed to be around 15-30 percent up in the retro market, helping in turn to support increased rates in the Florida renewal.
Florida renewals rewind clock on pre-Irma softening However, the verdict on whether Florida rate increases were enough to satisfy underwriters still seems a split one.
