Latest reinsurance renewal commentary from Guy Carpenter
Reinsurance renewals continued to see rates trending upwards through 2022 renewals and into the January 2023 contract signings.
Of these regional indices, US property catastrophe reinsurance rates-on-line increased by 30% at January 1st 2023 taking this index to an all-time high.
The US property cat RoL Index is now cumulatively 97% higher than it was in 2017, the bottom of the last soft market and rose 25% through the January to July 2023 renewals.
Meanwhile, Continental European property catastrophe reinsurance rates-on-line also rose by 30% at 1/1 2023, taking this index back to its highest level since 2007.
The Continental European property cat RoL Index is now up by 67% cumulatively since the soft market bottom in 2017.
* Preliminary numbers.
- View the Guy Carpenter Global Property Catastrophe Rate-On-Line Index.
- View the Guy Carpenter U.S. Property Catastrophe Rate-On-Line Index.
The Guy Carpenter ROL index is a measure of the change in dollars paid for coverage year on year on a consistent program base. The index reflects the pricing impact of a growing (or shrinking) exposure base, evolving methods of measuring risk and changes in buying habits, as well as changes in market conditions. Unlike risk-adjusted measurements, the index is not dependent on the model or method used to measure the amount of perceived risk in a program, which can vary widely.