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Florida reinsurance market shows signs of recovery with strong rate momentum: Berenberg

5th June 2023

In a positive turn of events for the Florida reinsurance market, industry analysts from investment bank Berenberg have reported that the market is experiencing strong rate momentum and renewed interest from reinsurers. The current rate increases and expected profitability have attracted players such as Berkshire Hathaway, DE Shaw, Ariel Re, and ... Read the full article

Berenberg analysts expect higher reinsurance prices in Europe

30th March 2023

Berenberg analysts in their recent "2023: the dawn of a new reinsurance cycle" report have predicted that rates for European reinsurance will be higher during the upcoming renewal seasons. Climate change dilutes geographical diversification which in the analyst’s view could be a key driver of the need for more rate. According to ... Read the full article

Berenberg foresees higher profitability for reinsurers

28th March 2023

Analysts at Berenberg expect to see higher future profitability for the reinsurance sector as the hard pricing environment looks to set persist and deliver higher returns on capital for reinsurers. The investment bank said that its broader view on reinsurance remains positive as the repricing of property catastrophe reinsurance has led ... Read the full article

AXA exposure to SVB banking crisis seen as minimal: Berenberg

16th March 2023

Berenberg has reported that AXA should face relatively low exposure to the collapse of Silicon Valley Bank (SVB) and the shockwaves this crisis has sent through the banking sector. Analysts note that AXA has €66 million invested in senior bonds of Silicon Valley Bank and €300m in US regional banks, and ... Read the full article

“Unfortunate” timing of IFRS transition to add P&C volatility: Berenberg

7th February 2023

Analysts at investment bank Berenberg have warned that the timing of the transition to IFRS 17 is "very unfortunate" for reinsurers and their investors, given the current hardening state of the market. In a new report, Berenberg argues that “transparency is low” when it comes to the transition between earnings reporting ... Read the full article

This hard market has legs to run, says Berenberg

31st January 2023

Analysts at investment bank Berenberg have insisted that the hard market "has legs to run" in 2023, anticipating that rate rises will continue throughout the year, while capital raised so far remains "minuscule" at $3.3bn. These statements follow a host of investor meetings held by Berenberg since publishing its 2023 outlook ... Read the full article

Quota share deal will not fix Direct Line’s problems: Berenberg

27th January 2023

Analysts at Berenberg have suggested that they aren't convinced Direct Line's recently announced quota share arrangement will fix all of its problems. Direct Line announced that it had executed the strategic reinsurance arrangement via the firm's principal underwriter, UK Insurance Limited on the 26th of January. Together, Direct Line said ... Read the full article

Renewal outcomes strong but longevity uncertain: Berenberg

18th January 2023

Analysts at Berenberg have commented that the outcome of the January renewals looks to be “strong” for reinsurers, but say that it remains uncertain how long hard market conditions will persist. Berenberg expected the reinsurance market to remain hard at least through 2023 due to broad-brush inflation, consecutive years of high ... Read the full article

Reinsurers make “significant strides” at Jan renewals: Berenberg

4th January 2023

Analysts at investment bank Berenberg have reported that the reinsurance market made “significant strides to improve profitability” at the recent January 1 renewals, particularly in underperforming property natural catastrophe business. Early reports from insurance brokers including Guy Carpenter, Gallagher Re and Howden indicate that the highly anticipated hard ... Read the full article

Lancashire benefiting from hard market: Berenberg

7th December 2022

According to a recent note from Berenberg, Lancashire’s outlook for 2023 is more than strong, mainly thanks to its recent expansion into new lines of business such as casualty reinsurance. This expansion, said analysts, is effectively transforming the re/insurer’s business model by providing a more diversified earnings stream, which means that ... Read the full article

IFRS 17 adoption already impacting L&G operating profit: Berenberg

1st December 2022

A new note from analysts Berenberg says that next year’s adoption of IFRS 17 has led to Legal & General announcing a 20-25% reduction in its operating profit. The firm said that the incoming standard had led to a ‘dominance of annuities’ in Legal & General’s business model, becoming a key ... Read the full article

European re/insurers bullish on rates and growth for 2023: Berenberg

28th November 2022

Analysts at investment bank Berenberg have reported that non-life and composite re/insurers in the European market appear to be “categorically bullish” on the outlook for pricing and their prospects for growth. The analysis follows calls with a number of firms across Italy, Spain and Switzerland, Berenberg said. The discussions highlighted that most ... Read the full article

Further rate hardening expected throughout 2023: Berenberg

27th October 2022

Analysts at investment bank Berenberg have said they expect the London market to see further rate hardening throughout 2023 due to the coalescence of different factors, including inflation - the single biggest concern for the industry according to analysts. Berenberg noted industry experts estimate that there could be $15bn-$25bn more demand ... Read the full article

Berenberg reflects on rates, Baden-Baden, and Hurricane Ian

24th October 2022

A new note from Berenberg says that rates remain under pressure while natural catastrophes for this year are poised to hit $100bn. The firm pointed to a press released put out by reinsurance giant Munich Re. It said Munich Re stressed that rates need to rise for a number of reasons. Berenberg ... Read the full article

Hurricane Ian to remain an earnings event for re/insurers: Berenberg

28th September 2022

Analysts at investment bank Berenberg have said they remain confident that Hurricane Ian, currently bearing down on the Florida coast, will remain an earnings event for insurers and reinsurers, rather than a balance sheet event. The forecast path for Hurricane Ian, which is now a major Category 4 storm with ... Read the full article