Reinsurance News
JP Morgan
JP Morgan estimates Hurricane Ian losses to hit $25bn
30th September 2022
JP Morgan has estimated that Hurricane Ian is likely to cause more than $25bn in damages, while cautioning that more clarity will be gained in the next few days. The firm said in a note that the speed of the storm and the resulting flooding will cause ‘catastrophic impacts’. But at ... Read the full article
Antares tops JP Morgan’s Lloyd’s Peer Analysis for investment performance
28th September 2022
QIC Group subsidiary Antares has announced that Antares Syndicate 1274 has been ranked first for investment performance based on three-year average investment return over the period from FY 2019 to 2021 according to JP Morgan Asset Management’s Lloyd’s Peer Analysis. According to the firm, it achieved an average annual investment return ... Read the full article
JP Morgan confident that reinsurance pricing will increase in 2023
26th September 2022
Analysts at JP Morgan are confident that the reinsurance market will show further hardening in 2023, despite already seeing several years of prices increasing. The report states that at the 2022 mid-year renewals, the market saw some business unable to be placed at all, particularly in lower layers on reinsurance programmes. ... Read the full article
Changes in Government spell positives for UK life insurers, says JP Morgan
22nd September 2022
According to a recent report from JP Morgan, there may be positive implications ahead of changes in Government for UK life insurers. The report suggests that Liz Truss is pursuing a policy of fiscal easing, and may announce a further reduction or reversal of planned tax increases, alongside wishes to accelerate ... Read the full article
Reinsurer nat cat experience year-to-date has been mixed, says JP Morgan
15th September 2022
According to a report from JP Morgan, Europe's big four reinsurers had mixed natural catastrophe experiences during the first half of 2022. It notes Munich Re is the only company to see losses below expectations at ~60% of the H1 budget, with only ~30% of the full-year budget utilized so far. ... Read the full article
UK PRT market ‘strongest European growth opportunity’ for insurers: JP Morgan
11th August 2022
The UK’s pensions risk transfer (PRT) market is one of the strongest growth opportunities in European insurance, according to JP Morgan. A new report from the financial giant states that while there are high barriers for new entrants, there is at least a £600m growth opportunity over the next ten years. This, ... Read the full article
No quick fixes in turning around a P&C business, says JP Morgan
8th August 2022
Last week's edition of Love Actuary, by JP Morgan, suggests turnarounds in P&C take time, there is no such thing as a very quick fix. The report states that P&C can be a cynical industry, even in the most vanilla products such as Motor Insurance, concluding that turnarounds take 2 to ... Read the full article
Hard to imagine motor claims inflation dropping in near-term: J.P. Morgan
27th July 2022
Inflation is “beginning to bite” in the UK motor insurance market causing adverse trends, particularly relating to claims inflation, analysts at J.P. Morgan have observed. A drop in claims inflation in the near term is hard to imagine, analysts highlighted, mainly due to supply chain issues, and wider economic inflation. In its ... Read the full article
Munich Re best positioned for US storm season – JP Morgan
24th June 2022
Munich Re is best positioned to deal with the seasonal underperformance typically experienced by European reinsurers during the Atlantic hurricane season, according to JP Morgan. Munich Re and Swiss Re typically have the largest share of hurricane losses among the European reinsurers. Munich Re and Swiss Re ... Read the full article
JP Morgan offers thoughts on 9th European Insurance Conference
20th June 2022
JP Morgan has offered its thoughts on the feedback received from its 9th European Insurance Conference. Among the areas that the financial giant commented on were commercial P&C (re)insurance pricing; losses related to Russia and Ukraine, plus other large losses; an update on Covid-19 reserves and related IBNR; and interest rates ... Read the full article
Covid cost coming into focus after two years, says JP Morgan
1st June 2022
JP Morgan has said that the companies most heavily impacted by the coronavirus pandemic were European reinsurers and Lloyd’s names. The assessment, done in relative terms, came as a surprise to JP Morgan, who said that tail risk generally accumulates at the reinsurers and that specialist classes of business are more ... Read the full article
JP Morgan critiques industry’s approach to nat cat losses
23rd May 2022
JP Morgan has posited that the reinsurance and insurance industry should look again at how it categorises catastrophe losses. While losses have increased in recent years, JP Morgan said it was commensurate to look not at the volume of losses but to compare losses with premiums. It wrote: “Nominal insured losses should ... Read the full article
JP Morgan says insurance fallout from Russia-Ukraine not seismic
20th May 2022
JP Morgan has posited that re/insurance industry estimates arising from Ukraine’s invasion by Russia will fall as more information emerges. The viewpoint is put across in the firm’s latest Love Actuary, which focuses on the conflict in Europe. JP Morgan wrote: “Whilst Q1 only showed part of the picture on claims, we ... Read the full article
JP Morgan predicts increased life reinsurance claims in the US from Covid
4th May 2022
JP Morgan has said it expects life reinsurance claims to be higher in the US due to Covid. The firm said that an analysis of the available data showed that there had been more than 130,000 covid-related deaths in the US in Q1 2022 and that this would lead to poor ... Read the full article
Beazley has war exclusions in every cyber policy: J.P Morgan
27th April 2022
In a report released by J.P Morgan based on findings from a recent conference call with Beazley’s Global Head of Cyber & Technology, Paul Bantick, to discuss the specialist insurers cyber business, it states that Beazley has war exclusions in every cyber policy. The report adds that the exclusions have two ... Read the full article
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