Reinsurance hardening to stay firm in 2024 but with softer price bumps

Amid growing investor concerns over rising nat cat losses, the reinsurance market appears to be shifting back to its pre-soft market state of providing capital protection for cedents, rather than earnings protection, according to  Fitch Ratings. The hardening trend in the market is predicted to continue into 2024, albeit with “more moderate” price hikes than seen in 2023.