Despite reinsurers efforts to maintain pricing momentum, rate increases were moderated by their good Q1 results, generally low catastrophe losses, rising underlying reinsured premium volumes, positive investment results, and the strong economic recovery from COVID-19. Capacity overall remained sufficient to meet demand, but reinsurers resisted competing for topline revenue, so poorly performing classes were constrained, Willis Re reported.
Concerns over inflation and COVID-related loss developments had no impact on pricing, with flat or moderately rising rates for property renewals. There were less consistent changes in casualty risk pricing and coverage, although it saw a similar gentle upward trend. An exception