Reinsurers have “increased appetite for natural catastrophe risk” after adjusting their pricing and programs, according to S&P Global Ratings.

“They were encouraged by the recent pricing corrections and higher attachment points,” the ratings agency says in a report. “Overall, the increase in risk exposure among the top players is substantial.”

S&P says not many reinsurers have chosen to either reduce or maintain their exposures to natural catastrophe risk.

“Some of these ... are guided by long-term strategies that focus on diversifying business lines and reducing volatility in underwriting performance,” the report says.

The S&P paper comes before the annual Rendez-Vous de Septembre in Monte Carlo from September 7-11.

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