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Aon’s Reinsurance Solutions team intends to push reinsurers and ILS funds for rate reductions, in areas of the market where real competition is seen, with the higher-layers of towers likely to receive the most focus for price improvements for clients at the January 2024 renewals.
This is according to Aon’s CEO of Risk Capital, Andy Marcell, who speaking at a briefing just prior to this year’s Monte Carlo Rendez-vous event, warned markets that the broker will be focused on getting better pricing and a smoother renewal outcome for its clients this year.
Marcel said that, “We are hoping that the reinsurance relationships that were severely tested between clients and reinsurers at the 1st of January, to a degree, can be rebuilt and re-established during the coming year.
“The clients are looking for stability, closer reinsurance relationships as we walk into 2024 and to sort of rebuild, a stable relationship in terms of capital management, with their reinsurance partners.
“That is something that they are uniquely focused on and of course, they’re very, very interested to see how the reinsurers will react,…