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The top 50 US reinsurance buyers
25 November 2009
AM Best data reveal the largest cedants and reinsurers in the US.
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AM Best
reinsurance buyers
cedants
reinsurers
US
Primary perspective
US cedants used slightly more reinsurance in 2008 as cessions to nonaffiliated carriers increased by 3.8%, compared with a scant increase of 0.2% in 2007. The primary drivers for this increase are catastrophe losses piercing reinsurance layers, the addition of quota-share reinsurance coverages with large carriers and increased ceded losses related to insurance products that were directly affected by the financial crisis.
With sizable reductions of primary capacity left in the wake of the worst financial market crisis of a lifetime, many predicted an increase in cedant demand for reinsurance coverages for surplus relief purposes. However, with reinsurance renewals largely completed for 2009, the demand for reinsurance did not rise as much as previously anticipated.
Instead, cedants typically faced an orderly market with reinsurance capacity largely available to fill placements. The lone exceptions of note are catastrophe-exposed risks and lines of business such as directors’ and officers’...
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