Reinsurance News
Insurance and reinsurance pricing news
News on pricing in global insurance and reinsurance markets, with a particular focus on renewal rates on line in reinsurance and commercial insurance pricing trends.
Aon launches data-driven insurer Pricing Platform
8th June 2023
Aon has announced the launch of its Pricing Platform, a software solution that aims to provide insurers with a competitive advantage through better risk selection and meaningful analytics to help drive company performance. The platform was launched by Aon’s Strategy and Technology Group. The Pricing Platform allows insurers’ in-house teams to rapidly ... Read the full article
Aon flags continued upward pricing pressure through Q1
11th May 2023
Analysts at global professional services firm Aon have noted continued upward pricing pressures through the first quarter of 2023, including ongoing inflation and rising loss costs, as well as surging reinsurance pricing and a contraction of reinsurance capacity. At the same time, however, a strengthening of insurer profitability and pressure to ... Read the full article
Hard market condition impacting P&C books, reports Amwins
9th May 2023
A new survey of property and casualty (P&C) brokers and agents has found that 97% of respondents feel that recent hard market conditions are impacting their books of business, while 95% say their clients risk being underinsured due to high inflation in 2022. Amwins notes that insurers have become more price ... Read the full article
Most coverage lines stabilising, D&O holds softest rates: WTW
5th May 2023
WTW, a global advisory, broking and solutions company has released its latest Insurance Marketplace Realities (IMR) report, showing that most coverage lines continue to demonstrate a stabilizing market trend that began in early to mid-2022. While a lot of coverage lines are demonstrating increases, analysts say they are more manageable than ... Read the full article
US premium growth in DUAE market continues: AM Best
28th April 2023
Direct premium flowing through the Delegated Underwriting Authority Enterprises (DUAE) market in the United States continued its significant growth rate in 2022, increasing by 13.8% to $67.6 billion, according to a new report from AM Best. However, data from the rating agency shows these premium sources varying significantly by insurer. Some are ... Read the full article
Global commercial insurance pricing rose 4% in Q1 2023: Marsh
28th April 2023
According to the latest Global Insurance Market Index from Marsh, global commercial insurance pricing rose 4% in the first quarter of 2023, the same as in the prior quarter. This will be the twenty-second consecutive quarter in which composite pricing rose, which continues the longest run of increases since the inception ... Read the full article
P&C rates to increase in 2023, insurers to reduce reinsurance use: S&P
27th April 2023
Underwriting profitability is expected for North American P&C insurers this year according to S&P analysts, who have also forecasted rate increases for homeowner insurance, auto and property, among others. Additionally, according to their recent report, they believe that P/C insurers in the region will reduce their use of reinsurance mainly due ... Read the full article
Reinsurance trickle-down to re-accelerate property rates: JMP
24th April 2023
Analysts at JMP Securities report that property-exposed primary insurance lines are likely to see rates re-accelerate over the coming months as the impact of higher reinsurance pricing trickles down. Reflecting on the first quarter of 2023, JMP noted that industry results will likely present a “complex picture”as mark-to-market investment gains will ... Read the full article
Commercial rates slow across Canada in Q4: Applied Systems
17th April 2023
New data from Applied Systems shows that the overall magnitude of commercial lines premium rate movements slowed in Canada during the fourth quarter of last year. Analysts report that rate increases decelerated across all lines relative to average premium renewals in the same quarter in the previous year, at 8.58% in ... Read the full article
Personal lines rates moderate through Q1: MarketScout
14th April 2023
Data from MarketScout shows that personal lines rates decreased slightly through the first quarter of 2023, with the US composite rate recorded at plus 5%. Homeowners and personal articles insurance on a composite basis were both down slightly in the Q1, analysts reported. But automobile insurance rates are increasing at plus 6.3% ... Read the full article
Homeowners renewal rate increases accelerate in March: KBW
12th April 2023
Analysts at KBW have reported that homeowners renewal rate increases are picking up steam, having accelerated to an estimated 5.9% in March. KBW notes that most homeowners insurers are raising rates, likely due at least in part to expected increases to both reinsurance rates and reinsurance attachment points, with the combined ... Read the full article
Berenberg foresees higher profitability for reinsurers
28th March 2023
Analysts at Berenberg expect to see higher future profitability for the reinsurance sector as the hard pricing environment looks to set persist and deliver higher returns on capital for reinsurers. The investment bank said that its broader view on reinsurance remains positive as the repricing of property catastrophe reinsurance has led ... Read the full article
Sapiens and WTW collaborate on pricing solution
28th March 2023
Global advisory, broking, and solutions company WTW and Sapiens, a global provider of software solutions for the insurance industry, have announced a collaboration aimed to enhance real-time pricing and speed to market for insurers. Sapiens will join WTW’s Insurance Technology Partner Network and together will deliver an integrated solution comprising Radar ... Read the full article
German public-sector insurer profits hit by reinsurance prices, claims inflation: Fitch
17th March 2023
According to analysts at Fitch Ratings, German public-sector insurers’ non-life underwriting profitability is likely to weaken in 2023, which will be driven by higher reinsurance prices and claims inflation. Fitch noted that it forecasts a net combined ratio of 98% for 2022 and 99% for 2023, compared with a five-year average ... Read the full article
US commercial prices up 4.8% through Q4: WTW
13th March 2023
US commercial insurance prices rose again in the fourth quarter of 2022, according to WTW’s Commercial Lines Insurance Pricing Survey (CLIPS), with the aggregate commercial price change measured at 4.8%. The survey compared prices charged on policies underwritten during the fourth quarter of 2022 with those charged for the same coverage ... Read the full article
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