Reinsurance 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.
17th September 2021
Analysts at Keefe, Bruyette & Woods (KBW) have suggested that rate growth in the current hardening market should continue for longer than in typical ‘three-year’ cycles seen in the past, despite the fact that increases have generally been less abrupt this time around. The firm believes that rate increases will be ... Read the full article
16th September 2021
Analysts at Berenberg believe that hardening market conditions will continue through into 2022, as reinsurers seek to earn returns above their cost of capital in the face of ultra-low interest rates, social and cost inflation as well as a prolonged period of above-average natural catastrophe losses. Berenberg’s key takeaway from its ... Read the full article
16th September 2021
A new survey from Willis Towers Watson (WTW) shows that US commercial insurance prices grew again through the second quarter of 2021, although at a slower pace than in previous quarters. The broker’s Q2 Commercial Lines Insurance Pricing Survey (CLIPS) found that the aggregate commercial price change reported by carriers was ... Read the full article
15th September 2021
According to analysts at Peel Hunt, reinsurance underwriters are increasingly re-examining the adequacy of property catastrophe rates as the rising frequency and severity of catastrophe losses continues to test the accuracy of existing models. Whilst US property catastrophe rates are delivering better margins, Peel Hunt says that re/insurers are becoming “less ... Read the full article
10th September 2021
The reinsurance market environment is “probably the most attractive market in a decade,” according to Romain Launay, Deputy Chief Executive Officer (CEO) of SCOR Global P&C. During SCOR’s 2021 Investor Day, Launay discussed the impact of several market conditions on reinsurance rate momentum, against the backdrop of the COVID-19 pandemic. With the ... Read the full article
8th September 2021
The results of a new survey by Moody’s show that property and casualty (P&C) reinsurance buyers expect prices to rise further in 2022 across all lines, but only at a low single digit percentage range. This expectation compares with the high single digit or even double digit increases that the market ... Read the full article
7th September 2021
Further reinsurance market hardening is expected in the months ahead as the severe flooding in parts of Europe in July and the more recent impacts of Hurricane Ida serve as a stark reminder of the issues at hand, according to Christian Mumenthaler, Chief Executive Officer (CEO) of Swiss Re. Read the full article
31st August 2021
Analysts at Goldman Sachs see London Market insurers as well placed to benefit from the current tailwind to insurance pricing, after delivering attractive returns over the insurance cycle. Following an acceleration of reinsurance pricing in 2020, analysts now believe pricing is moderating at attractive levels, which should lead to above cycle ... Read the full article
27th August 2021
A new market survey by the Council of Insurance Agents & Brokers (CIAB) has found that property and casualty (P&C) rates increased for the 15th consecutive quarter in Q2 2021 at 8.3%, down from 10% in the previous quarter. Both medium and large accounts experienced the highest increases, at 9.4% and ... Read the full article
27th August 2021
Analysts at insight and consultancy firm Insurance DataLab have stressed that, despite substantial rate increases over recent months, further price rises will be needed to offset losses within the Lloyd’s market. Lloyd’s premiums have increased by more than 50% year-on-year in every quarter since the start of the pandemic, the firm ... Read the full article
12th August 2021
IVANS, a division of Applied Systems, has announced the May results of its insurance premium renewal rate index, which show that average premium renewal rates experienced an uptick across most major commercial lines. Month over month, premium renewal rates rose for lines of business including BOP, General Liability, Commercial Property, Umbrella ... Read the full article
6th August 2021
A new report by Aon Commercial Risk Solutions (US) has found that public Directors’ and Officers’ (D&O) liability pricing continued to increase through the second quarter of 2021. The pricing index of D&O insurance increased to 1.84 from 1.43 in the previous quarter, while the average cost of $1 million in ... Read the full article
21st July 2021
Low claims levels of claims over the past year due to COVID lockdowns have resulted in a third consecutive quarter of falling car insurance premiums in the UK, according to the latest Confused.com Car Insurance Price Index in association with Willis Towers Watson (WTW). The index found that comprehensive car insurance ... Read the full article
2nd July 2021
Data from MarketScout shows that commercial property rates increased by 9.6% over the second quarter of 2021, as pricing continued to increase despite moderation in some lines of business. Other lines with significant rate increases over Q2 included business interruption up 7%, umbrella/excess up 11.6%, commercial auto up 9%, and D&O ... Read the full article
1st July 2021
Willis Re has reported that reinsurance rate increases continued for most major lines and territories during the June and July renewal period, although in many cases reinsurers had to accept firm order terms below their initial quotes. That indicates that the market is approaching equilibrium, the reinsurance broker says in its ... Read the full article
