Although reinsurance capacity is at an all time high, the extensive catalogue of major disasters that occurred over the last 5 years have meant a slight upwards trajectory for rates (at least for certain areas/lines).
A great point highlighted in Aon's report is the speed of claims resolution for those impacted by Wildfires - an average of just 8 days.
IMHO catastrophic events are when the (re)insurance sector comes into it's own - rapid deployment of capital and expertise in heavily impacted areas can truly save lives, and this is something we can all be proud of.
...there were 330 natural catastrophe events in 2017 that generated economic losses of $353 billion – of which 97 percent ($344 billion) were due to weather-related events, including hurricanes Harvey, Irma and Maria in the US and Caribbean, plus typhoon Hato in China and cyclone Debbie in Australia. The 2017 natural catastrophe losses were 93 percent higher versus the 2000-2016 average. Insured losses to the private sector and government-sponsored programmes were among the costliest ever incurred, reaching $134 billion in 2017 – just behind the record $137 billion in 2011. The 2017 insured losses were 139 percent higher than previous year’s $56 billion, primarily due to high insurance penetration in the US that suffered a very active Atlantic hurricane season, severe weather events and wildfires.