Discipline and limit management become key as headwinds blow

After almost three years of tailwinds which culminated in significant rate increases across many lines of business, conditions are now changing in the reinsurance market. Some headwinds are now emerging for reinsurers, and this means discipline and limit management will become key.

That is how Don Bahr, president of Markel Global Reinsurance since the start of 2023 when he took the reins from Jed Rhoads, characterises the market conditions he is seeing. He stresses that market dynamics broadly remain positive for reinsurers, but they must also continue to behave as rationally now as they have for the past three years.