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P&C reinsurance

The cycle has “disappeared,” says SCOR’s Denis Kessler

11th September 2018

Denis Kessler, Chairman and Chief Executive Officer (CEO) of French reinsurance giant SCOR, has said that it is his “strong conviction” that the reinsurance pricing cycle has “disappeared” and is unlikely to return. Speaking during a debate on the third day of the Reinsurance Rendezvous event in Monte Carlo, Kessler acknowledged ... Read the full article

Hannover Re expecting stable P&C prices at 1/1 renewals

10th September 2018

Hannover Re has announced that it is anticipating stability in property and casualty (P&C) reinsurance renewal prices and conditions overall for the treaty renewals at 1 January 2019. The German reinsurance giant acknowledged that the market environment continues to be challenging for P&C reinsurers, with rate increases lower than expected following ... Read the full article

Outlook for German life re/insurance remains negative, P&C stable: Moody’s

10th August 2018

The outlook for the German life re/insurance industry remains negative due to a combination of low interest rates and high guaranteed returns attached to past policies, while modest price increases have helped the property and casualty (P&C) sector stay stable, according to Moody’s Investors Service. Moody’s recognised the relatively strong economic ... Read the full article

Stronger underwriting performance drives improved P&C results for Swiss Re

3rd August 2018

Global reinsurance giant Swiss Re has reported its first-half 2018 financial results, announcing higher net income within its Property & Casualty Reinsurance (P&C Re) segment alongside solid premium growth. Swiss Re has reported Group net income of $1 billion for the first-half of the year, down from the $1.2 billion reported ... Read the full article

2Q18 P&C results signal increased M&A activity: KBW

18th July 2018

Results for 2Q18 show that mergers and acquisitions (M&A) activity among property and casualty (P&C) re/insurers has increased in terms of both transaction value and count when compared with the same period in 2017, according to analysts at Keefe, Bruyette & Woods (KBW). Underwriter transaction values for the year to date ... Read the full article

AFL enters partnership with U.S InsurTech start-up OnRisk

11th July 2018

AFL Insurance Brokers has entered into a strategic partnership with OnRisk, a U.S-based InsurTech start-up, to advance new technology for structuring and placing high value property & casualty (P&C) risk. The partnership will see AFL become an early adopter of the OnRisk structuring platform, which facilitates the placement process for risk ... Read the full article

Tax reforms to restore underwriting profitability in U.S. P&C industry: S&P

6th July 2018

Federal tax reform has emerged as a key variable in revenue growth and profitability as the U.S Property & Casualty market looks set to return to underwriting profitability for the first time since 2015, according to S&P Global Market Intelligence. A recent report by S&P identified various factors that were supporting ... Read the full article

P&C rate increases to continue despite volatility: KBW

28th June 2018

Commercial property and casualty (P&C) rate increases are likely to continue to increase despite monthly volatility in some lines, according to analysts at Keefe, Bruyette & Woods. KBW said that it “explicitly disagreed” with the proposition that current commercial rates increases are likely to fade, asserting that market hardening would unfold ... Read the full article

U.S P&C earnings volatile following equity accounting changes: Fitch

27th June 2018

Re/insurance companies that report under U.S Generally Accepted Accounting Principles (GAAP) may be subject to earnings volatility over 2018 due to a change in accounting for equity securities, according to Fitch Ratings. In an effort to promote convergence with international accounting practices, from January 1, 2018, companies have had to recognise ... Read the full article

U.S P&C personal lines losses rise for fourth straight year: Fitch Ratings

25th June 2018

Underwriting losses in the U.S P&C personal lines segment grew for the fourth consecutive year in 2017, according to a new report by Fitch Ratings. The industry statutory personal lines combined ratio rose to 103.8% in 2017 despite continued favourable written premium growth and moderate improvement in the personal auto segment, ... Read the full article

Oxbridge Re successfully renews reinsurance contracts

8th June 2018

Oxbridge Re Holdings Limited has reported that its wholly-owned subsidiary, Oxbridge Reinsurance Limited, has successfully placed its reinsurance contracts for the treaty year of June 1, 2018 to May 31, 2019. The successful placement sees Oxbridge’s subsidiary deploy all of its capacity into renewal contracts for clients at June 1. Jay Madhu, ... Read the full article

U.S P&C sector well prepared for 2018 hurricane season: Fitch

8th June 2018

U.S Property and Casualty (P&C) re/insurers are well prepared for the 2018 hurricane season, which is expected to return to normal levels following an extremely active 2017 season, according to Fitch Ratings. The rating agency concluded that U.S insurers are well positioned to withstand a future significant catastrophe event in 2018, ... Read the full article

Information and education critical to tackling U.S flood risk, says Swiss Re’s Junge

6th June 2018

Tackling the challenge of U.S flood risk will require re/insurers to focus on educating property owners while at the same time developing more detailed resources, such as flood maps and risk models, according to Swiss Re Senior Treaty Underwriter Matt Junge. Although floods cause around $15 billion of economic damage every ... Read the full article

Strong U.S. casualty market growth driven by quota shares: Munich Re’s Steve Levy

1st June 2018

The U.S casualty reinsurance market has experienced strong growth over the last few years, which has largely been driven by quota share business, according to Steve Levy, President and Chief Executive Officer (CEO) of Munich Re U.S’s Reinsurance Division. Levy explained that U.S casualty insurers are increasingly relying on reinsurance to ... Read the full article

Universal’s P&C subsidiaries finalise 2018-19 reinsurance programmes

31st May 2018

Universal Insurance Holdings, Inc. has announced that its wholly owned subsidiaries, Universal Property & Casualty Insurance Company (UPCIC) and American Platinum Property and Casualty Insurance Company (APPCIC), have completed their 2018-19 reinsurance programmes. Private participants in the reinsurance programmes include Nephila Capital (via Allianz Risk Transfer), Everest Re, RenaissanceRe, Chubb Tempest ... Read the full article

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