While almost every market observer and industry analyst are expecting reinsurance capital levels to increase in 2024, broker Howden has highlighted that actually securing access to capital will be a key differentiator for market participants, as not everyone is expected to be successful.
Over the last few years, capital raising for reinsurance start-ups has been challenging and the insurance-linked securities (ILS) market has certainly not had a level capital raising playing field.
There have been significant successes, on both the reinsurer and ILS manager side, but it is by no means a story of success across the board.
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