Lloyd's insurers may exit parts of reinsurance market

Some Lloyd's of London insurers might exit certain parts of the reinsurance market if rates do not materially improve at the next renewals, as they finding property catastrophe underwriting uneconomical, Artemis reports.

It is not just the cost of retrocession but also its availability and the types of coverage on offer that is pressuring some underwriters in the Lloyd's market.

Source: Business Insurance