Property retrocession renewals were watched closely at January 1 as some observers expected hardening market impacts to be significant. However, rate movements on non-loss-impacted programs were not as robust as many anticipated and continued to moderate closer to January 1.
Additional capacity in the retrocession market, lower limits bought by some global companies and increased activity in the catastrophe bond market all helped to moderate some of the upward pressures in this section of the market.
