What are current facultative market trends in South Africa?
Category:
Facultative Reinsurance
- Increased scrutiny of flood-exposed industrial sites.
- Tight capacity for large energy and petrochemical risks.
- Growing use of facultative for renewables (solar, wind farms).
- Heightened focus on cyber/AI exclusions, with facultative cover as a negotiation tool.
- Pricing hardening after consecutive local catastrophe events (e.g., KZN 2022 floods, 2023 Western Cape floods).