Reinsurance News
JP Morgan
Reinsurance market shift an opportunity to re-set profitability: JP Morgan
2nd February 2023
Analysts at JP Morgan have suggested that the reinsurance market shift is an opportunity for companies to re-set profitability and rebuild buffers. JP Morgan's analysts state that additional exposure growth on top is a bonus, though this is not something that the firm is looking out for. They write, "For the first ... Read the full article
California floods unlikely to be huge loss for re/insurers: J.P. Morgan
30th January 2023
A new report from J.P. Morgan has stated that the recent California floods are unlikely to be a huge loss for the insurance industry. The California floods hit from late December to early January. The state was hit with extreme rain and winds, leaving entire neighbourhoods under water, downing trees, and ... Read the full article
Analysts see Thierry Léger appointment as positive for SCOR, negative for Swiss Re
27th January 2023
Analysts at JP Morgan see the recent appointment of Thierry Léger as Chief Executive Officer (CEO) as a positive for SCOR in light of his strong track record of fixing issues, although the loss of his capabilities as Chief Underwriting Officer (CUO) is seen as a negative for Swiss Re. Read the full article
Lloyd’s market on the cusp of a new golden era, says JP Morgan
27th January 2023
Analysts at JP Morgan have suggested that the Lloyd’s market is on the cusp of a "new golden era." The analysts state that the Lloyd’s space will continue as a cyclical market, though in 2023, they anticipate the delivery of far stronger returns that won't just rely on "good luck." YTD underwriting ... Read the full article
European re/insurer solvency ratios continue post-pandemic recovery: JP Morgan
26th January 2023
Analysts at JP Morgan have reported that European re/insurer solvency ratios have remained resilient in the face of macro uncertainties over the last 2 years, highlighting a steady improvement over the period. The analysts write, "We believe that European insurers have weathered the macro challenges since the start of 2020 well, ... Read the full article
Global cat insured losses in Q4 2022 less than $10bn, says JP Morgan
20th January 2023
Analysts at JP Morgan have estimated Q4 global catastrophe insured losses of less than $10 billion. The analysts attribute this largely to two large natural catastrophes in North America, Hurricane Nicole in November and Winter Storm Elliott in December. P&C insurance company, The Hanover, recently reported estimated catastrophe losses of $190 ... Read the full article
AXA XL turnaround likely to continue in 2023, says JP Morgan
19th January 2023
Analysts at JP Morgan have released a report suggesting there is more to come from the turnaround at AXA XL, as it expects stronger-than-consensus underlying earnings in 2023 due to a studier performance in P&C. The analysts state that the relatively flat top-line at AXA XL relative to double-digit commercial P&C ... Read the full article
Reinsurance structures as crucial as pricing at 2023 renewals: JP Morgan
29th November 2022
Analysts at JP Morgan have asserted that the structure of reinsurance programs could play “as important of a role as pricing” at the upcoming renewal periods. In a new report, the firm argued that recent years of poor returns for the reinsurance industry have not simply been due to bad luck, ... Read the full article
Capital constraints despite “very strong” pricing outlook for European reinsurance: JP Morgan
24th November 2022
Prices for the European reinsurance market are predicted to be at some of the highest levels seen in the last 30 years, according to JP Morgan analysts. According to the firm, some focused specialist reinsurers point to a pricing environment similar to the one seen post Hurricane Katrina. The JP Morgan ... Read the full article
Clear that reinsurance pricing dynamics are set to materially change into 2023, say analysts
15th November 2022
A discussion with Sven Althoff, Member of the Executive Board at Hannover Re, has left analysts at JP Morgan confident that reinsurance pricing should materially improve into next year, with positive dynamics anticipated in all classes of business. "We believe the call supported our argument that reinsurance pricing should materially improve ... Read the full article
JP Morgan points to losses and pricing impacts on European reinsurance
28th October 2022
A new note from JP Morgan on the European reinsurance market says that large losses over the last six years alongside a half decade of price increases have impacted the industry. The financial giant said that five years of price increases have bode well for underlying underwriting results in recent years. ... Read the full article
Reinsurance pricing levels to take a material step up following Ian: JP Morgan
26th October 2022
Following the events of Hurricane Ian, the reinsurance industry is sitting on the cusp of a far harder market for pricing heading into 2023, suggests a report from JP Morgan. The report observes that it is difficult to truly assess how much prices will increase, particularly as the January 1 renewals ... Read the full article
AXA XL expected to produce underwriting profit despite Hurricane Ian losses
14th October 2022
AXA XL is expected to produce an underwriting profit despite losses caused by Hurricane Ian, according to a recent report by analysts at JP Morgan. Ahead of the release of the third quarter Activity Indicators on 2nd November JP Morgan is lowering its underlying earnings estimates for AXA by ~2%-6% over ... Read the full article
Munich Re & Swiss Re to bear largest market share of Ian losses: JP Morgan
13th October 2022
Basing its top-down view of Hurricane Ian losses on RMS’s $67bn estimate, JP Morgan has suggested that Munich Re and Swiss Re are likely to have the largest market share of Ian losses. JP Morgan observes that RMS gave a range of $53-74bn, with an additional $10bn in losses for the ... Read the full article
Swiss Re set for $399m Q3 loss in JP Morgan forecast
10th October 2022
Analysts at JP Morgan have forecast that Swiss Re will incur a net loss of $399 million for the third quarter of 2022, largely due to the impact of Hurricane Ian, as well as loss creep on other catastrophe events and investment market volatility. Based on a market-wide loss forecast of ... Read the full article
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