From:businessinsuranceeinsurance renewals at > ♣'Jan. 1, 2020, mainly saw single-digit incr♠×eases, with some exceptions, accor±Ωding to reports by reinsurancσ$©e brokers released Thursday.Willis Ω✔★πRe, the reinsurance brokerage of Willis Towers Wa↓☆✔tson PLC, and Guy Carpent​₹"er & Co. LLC, a unit of Marsh & McLennan&₽" Cos. Inc. both reporφ±£¶ted that year-end reinsurance renew​<≤$als varied by account and region, b∑♦ut the retrocessional×♥ reinsurance was under pressure.Rates on™" line for property catastro">phe reinsurance programs remained stable an♣σ★d property per risk ​<×pricing was driven by individual pr×÷₩ogram performance, the Willis report said.Alth✔☆ ough some Lloyd’s of London syndicates took ☆≠firm positions on rate increases and₹♣← the London market authorized capacity decr$®eased, that capactiy was replaced ✘"by new capital and a strong supply from o≠≥‌ther markets, Willis Re said.U.S. loss-free acco←π≤unts renewed at flat to up α£™ 10% while those with losses saw increases oα×f 10% to 50%, the Willis Re report÷↓ said, which was among the largest ​​ increases. Property catastrophe acco€≈φ↓unts without losses renewed at flα≤™at to up 5%, while loss hit aε★¶​ccounts were up 10% to 20%, Wilσ lis Re said.According to the₽× Guy Carpenter report, the brokerage’♠φ&s global property catastrophe rate on l€₹​≥ine index rose 5% in 2019.According to the Wil₹>lis Re report, other large increases were seen ®β∏™in Central and Eastern Europe, where p∑≈​roperty programs with losses×< saw increases of 5% to 20%☆"​ , and Canada, where such accounts r↕✘₽enewed up 10% to 40%≈£​.Most other regions a&☆≤¶nd countries saw property increases$♦♣₹ in the single or low double d¥≤✔£igits, the report sa♣§™φid.The Jan. 1 renewals saw some±φ “difficult” negotiations®♦, according to a letter i ‌n the report from James K≤© ent, global CEO, Willi‍ ™ s Re.The Guy Carpenter report said the reinsura★™™nce market was “asymmetrical,” add‌☆Ωing “this is certainly no±γ↕t a one-size-fits-all market” and while✔♥ overall capacity remained∑> adequate, “allocated capacityΩ☆∞ tightened notably in stressed classes.”DedicaΩ←​ted reinsurance capital rose 2% in 2019 and ‌‍♦the year saw approximately $60 billion in global ←☆​insured catastrophe losses, accor♦'ding to Guy Carpenter, which w±≥₩as significantly lower than ™£≠∑2017 and 2018.Alternative capital, however,∏> contracted by approximately 7% &∑‍percent “as investors were more cauti₹₹ous with new investments a≠← ‌fter assessing market dynamics and pri£εcing adequacy,” Guy Carpenter said.T×✔×$he retrocession market “was ch™πβ allenged … by trapped capital, a lack of ∞≈δ±new capital and continued redemp≠®¶>tions from third-party capitaλ$☆l providers,” a statem ₽≈<ent issued with the G↑∞ ♠uy Carpenter report said.However, significant ∏↔retrocession provide∑>rs returned to the market in the past two•✘↑ weeks, Willis Re said.Organσ₩∑izer：China Insurance Digital & AI Developme<λ"nt 2020Web:http://en.zenseegroup.com/p/560573/Cλ ✘ontact:Ann 021-65650305