You can’t always get what you want: US renewals


You can’t always get what you want: US renewals

Kael Coleman, Protecdiv; Air Chester, SiriusPoint; John Huff, ABIR

Rates moved in the right direction at the 1/1 renewals for reinsurers, but not far enough to compensate reinsurers for uncertainties over climate change, secondary perils and claims inflation. There were frustrations on all sides, but if they didn’t get all they wanted, many got what they needed – at least for now.

“Frustrating but ultimately fine”: that’s the verdict from at least one broker following the 1/1 renewals in the US and North America.

T. Kael Coleman is the founder and chief executive officer of re/insurance broker Protecdiv. Founded in December 2018, it aims to combine traditional trust-based advisory relationships with the best of modern data management and data analytic tools.

As he told Intelligent Insurer it’s the first part that was the challenge this renewals season. Coleman was joined in a discussion by Ari Chester, head of US and Canada reinsurance at SiriusPoint, and John Huff, chief executive officer of the Association of Bermuda Insurers & Reinsurers.

Protecdiv, SiriusPoint, ABIR, Renewals, Insurance, Reinsurance, T. Kael Colema, Ari Chester, John Huff, North America

Intelligent Insurer