Winds of change are driving the property market in a new direction. Nature had been kind
for more than a decade, sparing the U.S. from major hurricanes and earthquakes. At the
same time, record-low interest rates lured tens of billions of dollars in alternative capital
into insurance markets offering returns well above the rock-bottom rates available on more
standard investments. The combination of new capital and relative calm combined to push
insurance rates lower year after year — until now.