Speaking to this publication at the London Insurance Forum, Flandro said that for Florida, it is useful to remember how the 2017/18 renewal season played out.
“Last year, after we had a 5.7 percent increase in at 1.1.18, Florida was actually flat to down,” he explained.
“By our reckoning we’ve had a small decrease at 1.1.19, while no one can really guess what is going to happen in Florida… if I had to bet, I’d dare say we’re looking at a market with general price stability coming up at 1.6.”
“But it’s still very early,” he added.
At the forthcoming Japanese renewals in April, Flandro said while Typoon Jebi and a wider storm season in Asia Pac had taken their toll on carriers in the region, he didn’t foresee “anything drastic” happening at 1.1.
Watch The Insurer’s interview with Flandro for his full take on the forthcoming renewals, as well as the impact a tighter retro market is having on reinsurers…