Varied Florida renewals yield deeper rate cuts: JLT Re

JLT Re said the Florida reinsurance renewal produced a more
varied outcome than usual as it estimated rates fell by 5.1 percent
at 1 June.
This was ahead of the 3.1 percent drop recorded last year,
according to JLT Re's rate-on-line index.
The broker said renewal rates ranged from flat to 10 percent
down, as it noted "renewed vigour" from insurance-linked
securities (ILS) markets to deploy capital this year.
ILS managers
were keen to increase participations with stronger-performing
cedants, JLT.