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Reinsurance News

P&C reinsurance

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

US P&C underwriting income declined 9.6% in H1, reports AM Best

27th August 2019

The US property and casualty (P&C) industry’s net underwriting income declined by 9.6% to $4.8 billion in the first half of 2019, according to a new report from AM Best. The rating agency found that underwriting income was down from $5.3 billion for the same period in 2018, based on companies’ ... Read the full article

Moderate rate increases across most commercial P&C lines in Q2: CIAB

27th August 2019

The Council of Insurance Agents & Brokers (CIAB) has reported that premium pricing increased across all-sized commercial property and casualty (P&C) accounts in the second quarter of 2019. Similarly, all lines of business saw slight to moderate pricing increases during the quarter, with the exception of workers’ compensation. Commercial property and commercial ... Read the full article

Advanced analytics unlocking “new frontiers” of risk for P&C re/insurers: Swiss Re

22nd August 2019

The use of increasingly advanced analytic capabilities is enabling property and casualty (P&C) re/insurers to “unlock new frontiers in risk assessment and mitigation,” according to a new sigma report from Swiss Re Institute. The study explored how insurance and reinsurance companies can use analytics to support growth through new market opportunities ... Read the full article

U.S P&C insurers’ financial leverage remains stable: Fitch

13th May 2019

U.S property and casualty (P&C) insurers’ financial leverage remained stable year-on-year, according to Fitch Ratings, who recorded the sector’s aggregate financial leverage ratio (FLR) at 'A-'. Fitch explained that the ratio implied debt rating guidelines at 22.6% for year-end 2018, which was down minimally from 22.9% at year-end 2017. "In the medium ... Read the full article

Reserve releases to augment U.S P&C underwriting profits: KBW

16th April 2019

Analysts at Keefe, Bruyette & Woods (KBW) are anticipating that 2019/2020 underwriting results for the U.S property and casualty (P&C) re/insurance sector will be augmented by higher than expected reserve releases. KBW estimates that the U.S P&C industry’s overall year-end 2018 statutory loss and defence and cost containment reserves were overstated ... Read the full article

Zurich CEO optimistic about P&C rates in 2019

25th January 2019

Mario Greco, Chief Executive Officer of Zurich Insurance Group, has said that the company is optimistic about the prospects for property and casualty (P&C) re/insurance pricing in 2019. Speaking in an interview with CNBC at the World Economic Forum 2019 event in Davos, Switzerland this week, Greco said that market conditions ... Read the full article

P&C reserve development risk to increase: Morgan Stanley

15th January 2019

Analysts at Morgan Stanley believe that the risk of adverse development in property and casualty (P&C) re/insurance reserves is likely to heighten over the coming years, potentially leading to a major earnings headwind. The firm’s annual actuarial reserve study revealed an overall industry reserve deficiency of $4.3 billion relative to $615 ... Read the full article

Outlook of Italian life, P&C remains stable on robust earnings: Moody’s

4th January 2019

Moody's Investors Service has kept the outlook on Italy's life and property and casualty (P&C) insurance sectors at stable. Meanwhile, sustained sales of unit-linked products support profitability for the life insurance sector and while earnings for the P&C sector will decline moderately they will remain robust. Moody’s says that, for life insurance ... Read the full article

Asbestos and environmental claims continue to rise: A.M. Best

21st December 2018

Asbestos and environmental claims currently cost the property and casualty (P&C) re/insurance industry around $1.9 billion and $800 million in additional losses per year, respectively, and show no signs of slowing down, according to A.M. Best. The rating agency has raised its estimate of the ultimate net environmental losses for the ... Read the full article

Fitch revises negative outlook as U.S P&C sector recovers

4th December 2018

Fitch Ratings has revised its outlook for the U.S property and casualty (P&C) sector from negative to stable due to a notable recovery in the market following a challenging 2017. The rating agency’s 2019 outlook report noted that U.S P&C profitability rebounded in 2018 after a meaningful underwriting loss in the ... Read the full article

U.S P&C industry performance improves over 2018: A.M. Best

23rd November 2018

The U.S property and casualty (P&C) re/insurance industry posted strong results over the first nine months of 2018, improving its net underwriting income significantly due to growth in net written premiums and relatively flat losses, according to A.M. Best. The rating agency’s First Look report found that net premiums written grew ... Read the full article

Rising motor prices drive improved outlook for French P&C sector: Moody’s

9th November 2018

Moody’s Investors Service has changed its outlook on the French Property and Casualty (P&C) insurance sector from negative to stable, reflecting rising prices and lower claims frequency in the key motor insurance market. French P&C insurers are also likely to benefit from a rise in interest rates, as they will gradually ... Read the full article

Rising P&C reinsurance rates put pressure on Caribbean cedents: A.M. Best

2nd November 2018

Primary property and casualty (P&C) insurers in the Caribbean market remained mired in a protracted soft market cycle, but rising reinsurance costs could force companies to introduce some much-needed rate increases, according to a report by A.M. Best. The rating agency noted that insurers were unable to implement rate enhancements in ... Read the full article

Agile partners with OnRisk InsurTech on P&C structuring platform

18th October 2018

Agile Risk Partners, a London-based MGA start-up, has partnered with OnRisk, a U.S InsurTech start-up, on the development of an advanced, CAD-style platform for underwriting, structuring and distributing high-value property and casualty (P&C) risk. Under the terms of the strategic partnership recently concluded by the parties, Agile will become an ... Read the full article

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