Everest’s Williamson: Further reinsurance rate rises and hardening after “psychological change”
A “psychological change” among underwriters, along with a capital gap, will cause increases and hard reinsurance market conditions to persist throughout 2024 and into 2025, particularly in property catastrophe, while the need for ceding commission decreases in casualty and pro rata property is “accelerating”, Everest Group’s Jim Williamson believes.