According to its report, non-loss-impacted property catastrophe renewals also saw notable reductions in the risk-adjusted reinsurance rate at January 1, with the rate reductions ranging from 5% to 15%. The reductions in rates, as well as additional capacity, reflected strong reinsurer appetite, which was driven by several factors, such as 2024 being a profitable year due to projected average returns on equity of 17.3%.
