Cedants seek to bolster panels after 1/1 dislocation: Everest Re

While the run up to the 2023 year-end renewal should be smoother than last year’s, dislocations still exist in the market, with cedants often having to agree to multiple versions of terms and conditions with different reinsurers to secure the capacity they need. Ironing out such issues could be a priority this year as some cedants try to build out their reinsurance panels and increase their overall security.

That is the opinion of Jill Beggs (pictured), head of North America Reinsurance, Everest Re, speaking to Intelligent Insurer. She says that the ethos of the subscription market, where a panel of reinsurers share a risk and participate on the same terms and conditions, has all but disappeared since the last year-end renewal, which was very late, highly challenging and dislocated.