Reinsurance News

P&C reinsurance

P&C underwriting results expected to be worst since 2011, says Triple-I

14th November 2022

The 2022 combined ratio for the P&C insurance industry is set to worsen compared to 2021, driven by Hurricane Ian and significant deterioration in the personal auto line, making it the worst year for the P&C industry since 2011, according to the latest underwriting projections by actuaries at the Insurance ... Read the full article

Reinsurer earnings hit by interest rates & hurricane activity: DBRS Morningstar

5th October 2022

Despite lower combined ratios, global reinsurers' overall profitability declined significantly in H1 of 2022, primarily reflecting higher interest rates that adversely affected equity and bond valuations, and the mounting pressure of the ongoing Atlantic hurricane season, says DBRS Morningstar. According to the report, global reinsurers performed significantly worse compared with the ... Read the full article

Reinsurance capacity crunch a catalyst for P&C rate rises at Jan 2023 renewals, says Peel Hunt

21st September 2022

According to a report from analysts at Peel Hunt, a potential capacity crunch in the reinsurance sector could be one of the key catalysts for further property catastrophe rate rises at the January 2023 renewals. The report suggests that despite the fact the solvency capital position across the reinsurance sector is ... Read the full article

P&C reinsurers post 13% premium growth through H1: RAA

6th September 2022

New data released by The Reinsurance Association of America (RAA) shows an increase in both profitability and net premiums for US property and casualty (P&C) reinsurers through the first half of 2022. The data, collected by RAA from 17 reinsurers globally, shows that the combined ratio for the group improved marginally ... Read the full article

Reinsurance sector to benefit from rising prices & strong investment income: Moody’s

6th September 2022

According to a Moody’s Investors Service report, reinsurance earnings will be strengthened by increasing prices and higher investment income amid rising interest rates. Catastrophe losses and a heightened perception of risk following the pandemic have fuelled an increase in demand for both primary commercial and reinsurance property and casualty (P&C) protection, ... Read the full article

Fitch highlights impact of inflation & nat cats on Asian reinsurance market

31st August 2022

Inflation and natural catastrophes are set to moderately increase pricing and squeeze underwriting margins in the Asian reinsurance market, says Fitch Ratings. According to Guy Carpenter, risk-weighted prices rose by 1%-5% in Japan for programmes covering the country’s 2021 windstorm, with the average price for typhoon risk reaching a 25-year high. ... Read the full article

Europe’s big four see P&C reinsurance underwriting performance deteriorate: Moody’s

26th August 2022

Europe’s big four average net combined ratio from property and casualty (P&C) reinsurance deteriorated to 98.9% from 95.5% a year earlier, with only Munich Re reporting a stronger P&C combined ratio, says Moody’s. The report suggests that the group's weaker P&C underwriting performance partly reflects several small to mid-sized natural catastrophe ... 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

P&C industry strong despite underwriting losses: analysts

10th June 2022

Despite experiencing an underwriting loss, the property andcasualty insurance industry ended 2021 strong and remains able to support policyholders, according to a report from Verisk and the American Property Casualty Insurance Association (APCIA). In 2021, the insurance industry experienced a $3.8 billion net underwriting loss, after a $5.2 billion underwriting gain ... Read the full article

P&C underwriting profits to improve through 2022: Fitch

7th April 2022

Analysts at Fitch Ratings believe that the property and casualty (P&C) re/insurance industry is positioned for better underwriting profits in 2022, driven by continued favourable commercial lines pricing trends and likely stabilization in personal auto business. The 2021 GAAP full-year results for a peer group of 45 North American P&C firms ... Read the full article

A changing environment shouldn’t change your strategy: PartnerRe’s Colello

29th November 2019

Reinsurers should not be looking to alter their strategy in response to changing market conditions, but should instead be focusing on consistency and execution, according to Jon Colello, CEO for P&C Americas and President of PartnerRe. Speaking in an interview with Reinsurance News, Colello acknowledged that both insurers and reinsurers were ... Read the full article

Moody’s stable on US P&C personal insurance in 2020

22nd November 2019

Moody’s Investors Service has assigned a stable outlook to US property and casualty (P&C) personal insurance in 2020, reflecting ample capital, effective risk management, and evolving technology. Analysts noted that personal auto insurers reported good profitability for the majority of 2019, owing to cumulative rate increases and better than expected loss ... Read the full article

Chubb names Grant Cairns as Head of P&C for Asia Pacific

22nd November 2019

Global insurance and reinsurance company Chubb has announced the appointment of Grant Cairns as Head of Property & Casualty (P&C) for Asia Pacific. He will succeed Jason Keen, who has been appointed as Division President for Chubb Global Markets, effective early 2020. Cairns is currently Chubb’s Head of Financial Lines for ... Read the full article

P&C market favourable for smaller, niche players: JP Morgan

25th October 2019

Smaller, niche carriers are particularly well positioned to take advantage of favourable conditions in the property and casualty (P&C) re/insurance market, according to analysts at JP Morgan. In a new report, the firm said it expects smaller players to accelerate their market share gains as larger market leaders retrench in an ... Read the full article

P&C claims up 5.6% for EU insurers, reports Insurance Europe

3rd October 2019

European insurers saw property and casualty (P&C) insurance claims increase by 5.6% to €253 billion last year, according to data from Insurance Europe. Of this figure, motor claims accounted for €100 billion, property €65 billion, general liability €26 billion, and accident €21 billion. P&C claims continued to make up roughly one quarter ... Read the full article