Insurance
Increased reinsurer appetite drives excess property catastrophe capacity

According to its report, risk-adjusted reinsurance rates for non-loss-affected property catastrophe renewals have also dropped significantly since January 1, ranging from 5% to 15%. The reduction in rates coupled with the increase in capacity reflects strong reinsurer interest, driven by a number of factors such as 2024 being expected to be a profitable year with an average return on equity of 17.3%.