The industry should “stay tuned” as the revised catastrophe model from Risk Management Solutions rolls out, the CEO of RenaissanceRe told NU, describing the model changes and potential market impacts as meaningful.
Neill Currie was not predicting a market change from the model revision alone but from the combined effect of the model and early-year losses from catastrophic events in Australia and New Zealand.
Most Bermuda executives speaking on recent earnings conference calls said there was no Jan. 1 reinsurance renewal impact from the pending model change. Midyear property-catastrophe reinsurance renewals could be a different story, however, Mr. Currie suggested.
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