Reinsurance News
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European & London market re/insurers very well placed for an active hurricane season: BofA
19th July 2024
As hurricane forecasters anticipate an active 2024 hurricane season, analysts at BofA Securities have said that European and London market re/insurers are very well placed to deal with the potential fallout. While the majority of Atlantic hurricane activity typically occurs between mid-August and mid-October, insurers and reinsurers were put on high ... Read the full article
“Difficult to claim” we are in a true hard market for commercial lines P&C: Bank of America
18th December 2023
According to Bank of America Securities analysts, it is already difficult to claim that the industry is in a true hard market for commercial lines for property & casualty (P&C), and they believe that this will become "increasingly clear" through 2024. Analysts also noted that they think margins will expand in ... Read the full article
European non-life insurers remain strongly reserved despite inflation: BofA Securities
28th November 2023
As per the BofA Securities annual reserve review, European non-life insurers remain "strongly reserved and well placed to deal with shocks, despite the impact of higher-than-expected inflation in recent years." Analysts at BofA Securities noted that buffers acted as an important first line of defence against unexpected inflation shocks last year, ... Read the full article
Large losses to come in above budget for Europe’s big four reinsurers in Q1: BofA
3rd May 2023
Bank of America (BofA) estimates that European reinsurance results will fail to hugely impress against already-high expectations for the sub-sector, while analysts expect that all four major European reinsurance companies will have exceeded their Q1 large losses budget. The key factor for these losses according to the bank is natural disasters. ... Read the full article
London Market’s Q1 losses remain uncertain: BofA
22nd April 2022
Analysts at Bank of America (BofA) have warned that the scale of losses incurred by London Market insurers and reinsurers during the first quarter of 2022 will remain uncertain for some time yet due to the ongoing uncertainties around exposure to the conflict between Russia and Ukraine. Although the key area ... Read the full article
Capital build-up could undermine pricing discipline: BofA
21st April 2022
Analysts at Bank of America (BofA) have warned that a build-up of capital in the reinsurance industry could begin to undermine pricing discipline over time. BofA noted that capital is building in both the traditional and insurance-linked securities (ILS) sections of the reinsurance industry, and expressed concern over a possible knock-on ... Read the full article
Growing reinsurance losses an underwriting issue, not structural: BofA
20th April 2022
Analysts at Bank of America (BofA) have argued that the worsening loss experience for European reinsurers observed in recent years is indicative of widespread underwriting issues, rather than a structural problem for the industry at large. The firm attributed the poor large loss experience to the fact that reinsurers are generally ... Read the full article
“Russian nationalisation of stranded planes biggest risk to London market” – Berenberg
16th March 2022
The greatest risk to the London insurance market could be in the aviation lines due to Russia’s nationalising of planes trapped within its borders due to international sanctions. In recent days, the Russian state has moved to deal with the issue of the 500+ leased jets that cannot leave the ... Read the full article
“500 grounded planes in Russia main issue for aviation lines” – Bank of America
15th March 2022
Bank of America has said that the main issue for aviation lines centres on the 500-plus aircraft stranded in Russia because of sanctions arising from the country’s invasion of Ukraine. The planes, valued at over $10bn, could lead to a surfeit of claims for the insurance industry, likely leading to litigation ... Read the full article
Bank of America releases new note on Russia/Ukraine exposures for insurers
8th March 2022
A new note from Bank of America outlines the uncertainty that current sanctions on Russia have for insurance companies. Following Russia’s invasion of—and probable war crimes against—Ukraine in recent weeks, sanctions against the country from around the world have been applied. According to Bank of America, much of the effects of ... Read the full article
BofA forecasts good 1/1 pricing updates, property cat pruning for reinsurers
26th January 2022
Bank of America (BofA) expects European reinsurers to announce good 1/1 renewal pricing updates, with rises supportive of its 1.5% (net of claims inflation) rate increase assumption for 2022. The bank also predicts European reinsurers to show signs of portfolio pruning in part of the property cat books in order to ... Read the full article
BoA predicts strong numbers for European reinsurers
24th January 2022
Bank of America (BoA) has said that reinsurers in Europe should post strong last-quarter numbers for 2021, saying that figures for that period may be higher than expected. The bank said it believes that a strong Q4 2021 will contrast well with the same period of the year before, which was ... Read the full article
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