Exclusive insight and analysis from Insurance Times, Strategic Risk and Global Reinsurance
The (re)insurance market has well and truly woken up with this month. As our detailed coverage of results in the sector demonstrates, capital at the big reinsurance players is fully reloaded and the profits were flying in for 2009. On the flip side, this has pushed back towards a soft market, with a fall in rates at the 1 January renewals; a trend that can be expected to accelerate throughout this year.
Lloyd’s, home to many reinsurers, is also performing well, with a robust results season. But the market is not resting on its laurels: its strategic review released this month outlines its plans up to 2012. As we suggest, it may not be revolutionary – but it is smart thinking.
Meanwhile, in the primary market, insurance brokers are looking to start splashing the cash once again. Kwik-Fit is already on the market, and a large number of major brokers are looking to start buying again. As with the reinsurance market, there is cash on the table, and it is now merely a question of when, not if, the buy frenzy begins.
As we conclude the first quarter of 2010, it is clear that this year will be an interesting ride – and hopefully without the white knuckles that characterised 2009.
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