Lloyds’s could face higher reinsurance rates after delay in renewals

12/6/2018 5:32:00 AM

Source: Business Insurance

Lloyd’s of London syndicates could face higher reinsurance and retrocession rates or unfavorable terms after delaying their renewal plans for 2019, Artemis.bm reported citing sources. Lloyd’s underwriters are also likely to face tougher capital requirements to operate in 2019 following increasing underperformance, the sources said. Reinsurance rates are expected to increase for the January 2019 renewals due to a potential capacity crunch, the sources added.