Buyers left seeking alternatives after ILS retrenchment in UNL retro crunch

Traction has picked up in the retro market over the last ten days but a late 1 January renewal looks set to run well into the new year with many buyers forced to look for alternatives to traditional ultimate net loss (UNL) products to fill gaps in placements left by a drop-off in capacity from ILS funds, The Insurer understands.