This is the view of a panel of business leaders who participated in a virtual media briefing, “A New Cadence” hosted by Guy Carpenter, a leading global risk and reinsurance specialist and a business of Marsh McLennan, which addressed market conditions ahead of the 1 January 2024 reinsurance renewals.
In his opening comments, Mr David Priebe, chairman of Guy Carpenter, said, “Heading into January 2024 renewals, we believe demand for reinsurance will grow with reinsurers’ willingness to deploy capital also increasing — although underwriting discipline will not subside. Thorough preparation and thoughtful differentiation will enable cedents to adjust their own approach and leverage a range of solutions to transform risk into profitable returns.”
He added, “A new cadence has emerged, and we are equipped to thrive amidst this new normal of interconnected and perpetual risk.”
Capital markets & retrocession
Addressing how cedents have responded to these evolving market conditions, Ms Lara Mowery, global head of Distribution, said, “Cedents have now had more time to begin adapting to 2023 market adjustments and this may play out in a number of ways at 1…
