Reinsurance News
P&C insurance
P&C insurance market shows resilience, risk awareness, and tech commitment: KBW
20th September 2023
The KBW Insurance Conference 2023 shed light on the current state of the Property and Casualty (P&C) insurance market, revealing a landscape marked by pricing resilience, careful risk assessment, and a commitment to technological advancements. Despite exceptions in sectors like Directors and Officers (D&O) insurance and workers' compensation, most personal and ... Read the full article
US commercial insurance rates rise again in Q2: WTW
13th September 2023
Insurance broker WTW’s quarterly survey shows that U.S. commercial insurance prices have continued to increase in the second quarter of 2023. The company's Commercial Lines Insurance Pricing Survey (CLIPS) compares insurance prices on policies underwritten during Q2 2023 to the prior year Q2. It shows an overall year-on-year increase of 6.1%, slightly ... Read the full article
Reinsurers’ reduced coverage sparks volatility in European P&C insurance market: Moody’s
1st September 2023
In 2023, the European property and casualty (P&C) insurance market has been hit by a wave of reduced reinsurance protection, resulting in increased volatility for primary insurers, according to a recent report by Moody's. The shifting landscape has prompted primary insurers to retain more catastrophe risk, with significant implications for their ... Read the full article
Inflation & cat losses to drive 2023 underwriting loss for P&C industry
4th August 2023
The overall P&C industry is expected to finish the year with a net combined ratio of 102.2, almost identical to the 2022 result, with poor personal lines underwriting performance as the key driver in both years, according to the latest underwriting projections by actuaries at the Insurance Information Institute (Triple-I) ... Read the full article
US MGAs see strong growth in 2022 amid shifting landscape and increased scrutiny: Conning
3rd August 2023
In a recent study conducted by Conning, it has been revealed that Managing General Agents (MGAs) in the U.S. property-casualty (P&C) insurance sector experienced remarkable growth in 2022, outpacing the broader P&C market. The study indicates that premiums sourced by MGAs surged by an impressive 24%, a growth rate significantly higher ... Read the full article
Positive growth expected for European non-life insurers despite persisting inflation: S&P
26th July 2023
Despite seeing a drop, inflation is expected to impact European non-life insurers, yet S&P Global Ratings believe they will continue to perform robustly. European insurers are facing numerous challenges linked to economic growth, inflation, interest rates, and investment. However, their capital strength, liquidity, and rising re-investment rates counterbalance these obstacles, according ... Read the full article
Stable outlook for Italian P&C but negative for life insurers: Moody’s
23rd June 2023
Italian property and casualty (P&C) insurers have been assigned a stable outlook by credit rating agency Moody’s, while Italian life insurers’ has been negative. According to the report, the stable outlook for P&C reinsurers reflect the agency’s expectation that rising prices will largely offset higher claims frequencies and inflation over 2023. Meanwhile, the ... Read the full article
S&P forecasts further increases in P&C insurance premiums through 2023
13th June 2023
"We expect P&C insurance premiums for commercial properties, including multifamily, will keep rising through 2023," suggests S&P Global Ratings credit analyst Raymond Kim. Kim's comments stem from a report in which S&P Global Ratings analysed 2020-2022 expense trends on 60 loans on U.S. affordable housing properties receiving low-income housing tax credits. Its ... Read the full article
Electric vehicles to drive up costs, pricing for auto insurers: Moody’s
19th April 2023
Electric vehicles, as they grow more popular, will drive up costs for auto insurers as they are difficult to repair and insurers are expected to raise pricing taking this into account, Moody's said in a report. US auto insurers have posted weaker earnings over the past two years due to deteriorating ... Read the full article
US P&C industry records $26.5bn underwriting loss for 2022: AM Best
23rd March 2023
The US property and casualty (P&C) industry recorded a net underwriting loss of $26.5 billion in 2022, according to data from AM Best, worsening by $21.5 billion from the previous year. The rating agency’s data was compiled from companies whose 2022 annual statutory statements were received as of March 9th, which ... Read the full article
P&C claims growth to ease as inflation moderates: Swiss Re
20th March 2023
Analysts at Swiss Re have warned of continued claims severity pressures for property and casualty (P&C) re/insurers over the coming year, although the firm says that claims growth will ease slightly alongside a moderation in inflation. Swiss Re expects headline inflation to decline but stay elevated in 2023, to some extent ... Read the full article
Business intelligence & telematics latest risk mitigation trends in P&C: Waterstreet
9th March 2023
Business intelligence and telematics will be the latest trends in the property and casualty (P&C) insurance industry emerging for the second quarter, a recent analysis by insurance solutions provider Waterstreet Company has revealed. The company’s findings also highlighted the importance of innovative technologies and practices that reduce risk and improve the ... Read the full article
Moody’s remains stable on European life insurance & negative for P&C
31st January 2023
Moody's outlook remains stable for the European life insurance sector and negative for the property and casualty (P&C) sector, unchanged from the previous year. Analysts at Moody's have suggested that rising interest rates will support life insurers' profit margins and capital, though sales could decrease as the economy slows. The firm noted, ... Read the full article
Property casting a major shadow over re/insurance market: Lockton
20th December 2022
Insurance and reinsurance broker Lockton has released a report suggesting the property sector is casting a major shadow over the market, despite conditions in other lines remaining largely predictable. In its report, Lockton explains that the P&C insurance market was previously on a path toward stabilisation before the event of Hurricane ... Read the full article
Aldagi to become first reinsurance company in Georgia
14th December 2022
Aldagi, the leading P&C insurance company in Georgia, is set to further expand its business and become the first reinsurance company in the country. Aldagi expects that with this expansion, the firm will emerge as an important regional player, allowing it to better meet the needs of both local and ... Read the full article
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