Stormy times ahead for reinsurers?

Inadequate capacity and a shortage of retrocessional cover have heralded the first truly hard market in a decade, and this year’s hurricanes are yet to arrive. JONATHAN REST reports on a catastrophe-exposed market that remains uncertain which way the wind will blow in the years ahead

ANOTHER heavy Atlantic storm season will accelerate the redeployment of capital and make it even more difficult to secure traditional reinsurance protection. That is the warning from Willis Re as the broker releases its July reinsurance renewal review.