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.