Swiss Re Insurance-Linked Fund Management

PCS - Emerging Risks, New Opportunities

Global property cat rate Index approaches 30% up after mid-year: GC


After incorporating data from the mid-year renewals, global property catastrophe reinsurance rates are now estimated to have risen by approaching 30% year-to-date, according to Guy Carpenter.

The reinsurance broker presented its latest outlook for the reinsurance market today, during a pre-Monte Carlo Rendez-vous briefing.

The Guy Carpenter Global Property Catastrophe Rate-On-Line Index is a proprietary index of global property catastrophe reinsurance Rate-on-Line movements, for brokered excess of loss placements, that has been maintained by the reinsurance broker since 1990.

This Index had risen by 27.2% at January 1st 2023, reflecting strong price increases achieved by reinsurers at renewals.

Now, adding in preliminary findings from mid-year reinsurance renewal pricing, the broker reports that the Index is now up 29.3% year-to-date.

To analyse an interactive version of the Index, click on the image below:


Speaking during today’s briefing, Dorothee Moutafis, Chief Operating Officer, North America at Guy Carpenter, said that, “The US property catastrophe rate online index increased 35% year-on-year, while the Asia Pacific rate online index increased 16% including mid-year adjustments.

“Incorporating these shifts in key geographies with other regions remaining largely stable from January 1st, the global property catastrophe rate-on-line index increased to 29.3% for 2023, from the January 1 figure of 27.2%.”

“The rate-on-line increases were actually less than the risk-adjusted pricing, as the changes in the indices were tempered by broad-based increases in retentions from clients.

“The rate-on-line index more closely represents the change in actual dollars paid, in most cases for coverage significantly further removed from expected loss.”

Artemis Live - ILS and reinsurance video interviews and podcastView all of our Artemis Live video interviews and subscribe to our podcast.

All of our Artemis Live insurance-linked securities (ILS), catastrophe bonds and reinsurance video content and video interviews can be accessed online.

Our Artemis Live podcast can be subscribed to using the typical podcast services providers, including Apple, Google, Spotify and more.

Print Friendly, PDF & Email

Artemis Newsletters and Email Alerts

Receive a regular weekly email newsletter update containing all the top news stories, deals and event information

  • This field is for validation purposes and should be left unchanged.

Receive alert notifications by email for every article from Artemis as it gets published.