From:businessinsurancee'"♣★insurance renewals at Jan. 1, 2020, mainly saw siα₩$ngle-digit increases, with&©¥® some exceptions, according to rep¶•orts by reinsurance brokers releasedσ↔© Thursday.Willis Re, the reinsurance∑≥¥∞ brokerage of Willis Towers Watson PLC, and&↔↔ε Guy Carpenter & Co. LLC, a un♥∑it of Marsh & McL↔↑ennan Cos. Inc. both rep∞±orted that year-end reinsurance renewals v•₹aried by account and >​₹region, but the retrocessional reinsurance wa '•s under pressure.Rate₽♦♦₽s on line for property catastrophe reins♦♦•urance programs remained stable and pr≤¶>operty per risk pricing was driven by individual ™λ program performance, the Wil₩☆±lis report said.Although some Lloyd’s ₩↑λof London syndicates took firm positions on✔'✘ rate increases and the Lo ™ndon market authorized capacity decreased,<•  that capactiy was replaced by n≤©ew capital and a strong suppl&♥♠₹y from other markets, Willis Re said.U.S.&"∞ loss-free accounts renewed at flat to up 1♠£0% while those with losses§→× saw increases of 10% to 50%䧩₹, the Willis Re report said, whi• ch was among the largest increases®€". Property catastrophe accounts without lπ≥≈£osses renewed at flat to up 5%, wh®↓ile loss hit accounts were up ×↔♥10% to 20%, Willis Re said.According to the÷' Guy Carpenter report, the brokerage’s globa¶✔✔l property catastrophe rate on line i₩ λ∑ndex rose 5% in 2019.Acco♠✔↑±rding to the Willis Re report, other l®©λarge increases were seen in Central an≈δ✘d Eastern Europe, where property programs with l ± osses saw increases of 5% to 20%, and Canada, ≈∞where such accounts renewed up 10% t☆♥≤♣o 40%.Most other regions an∞×↓d countries saw property increases i<≥¶n the single or low double digits, the r♥<★eport said.The Jan. 1 renewals saw ®↕<some “difficult” negotiations, according t£¥o a letter in the report from±$© James Kent, global CEO, Willis Re.T↑∏™≥he Guy Carpenter report s>®aid the reinsurance market wa↑↔​s “asymmetrical,” adding “this is ce"÷↓rtainly not a one-sizπ‍≈e-fits-all market” and whi" le overall capacity rema™ ined adequate, “allocated capacity tightened not÷>δφably in stressed classes.”Dedicate₽€&¥d reinsurance capital rose 2% in 2019 £®and the year saw approximately $60 billion i←♣↔>n global insured cat¥©☆$astrophe losses, accord★® §ing to Guy Carpenter, which was significλ≈λ antly lower than 2017 and 2018.Alternative capita→ π♠l, however, contracted by approximately 7% perΩ♠cent “as investors were more ca₩¶∏utious with new investments after assessing ma∏↕↔☆rket dynamics and pricing≤±★ adequacy,” Guy Carpente±↕€r said.The retrocession marke₩♦β±t “was challenged … by trapped capital, a la₽ ck of new capital and continued redemptions f ≥≤rom third-party capital providers,” a sta∞πtement issued with the Guy Carpenter repσ™ort said.However, significan¥©ε✘t retrocession providers returned to the ma↓¶→rket in the past two &¶Ωweeks, Willis Re said.Organizer：C≤​hina Insurance Digital & AI Dα₩evelopment 2020Web:http://en.zenseegroup.com/p/56 ©♠↑0573/Contact:Ann 021≈σ-65650305