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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.

Reinsurance pricing to remain firm, but no acceleration likely: JMP Securities

17th January 2022

Analysts at JMP Securities expect property reinsurance pricing to remain firm as the market progresses through 2022, but warn that rates will not materially accelerate from current levels without additional significant loss events. The recently completed January 1 renewal saw continued upward movement in pricing, with some business seeing the strongest ... Read the full article

Reinsurance underperformance “ripe for reversal”: Berenberg

17th January 2022

Analysts at Berenberg consider a trend of underperformance among reinsurers as “ripe for reversal” following a strong January 2022 renewal period, which saw rate rises of more than 10% for natural catastrophe risks in many cases. Berenberg views the global reinsurance sector as having performed poorly in 2021, largely due to ... Read the full article

Howden forecasts tempered rates for some areas in 2022

7th January 2022

Analysts at Howden are expecting to see “further and accelerated rate tempering in 2022” despite a January 1 renewal period that was largely defined by continued price increases. The broker says higher rates and improved underwriting margins are likely to continue to attract new capital in 2022, although this is unlikely ... Read the full article

Renewal rate increases imply dramatically better returns: KBW

6th January 2022

Analysts at KBW have said that rate increases for property and casualty business at the January 1 reinsurance renewals imply “dramatically improved expected returns” for reinsurers. Although individual cedents' rate changes varied widely, property catastrophe reinsurance rate increases were measured at around 9% globally and 6.5% in the US, according to ... Read the full article

P&C rates up through Q4 but increases moderating: MarketScout

6th January 2022

MarketScout data shows that commercial property and casualty (P&C) insurance rates were up through the fourth quarter of 2021, with the composite rate recorded at 5.8%, versus 6.8% in Q3. By line of coverage, MarketScout found the biggest rate increases in the fourth quarter were for umbrella, property and directors and ... Read the full article

Price increases top 30% on some loss-impacted lines at 1/1: GC

5th January 2022

Analysts at Guy Carpenter have observed reinsurance pricing increases of over 30% on some loss-impacted business at the crucial January renewal period. The broker’s Global Property Catastrophe Rate-on-Line Index increased 10.8% year-on-year, and found that structure adjustments, particularly on retentions, were more prevalent in heavier loss-impacted sectors. While pricing exhibited a wide ... Read the full article

Some European cat rates rose by over 50%: Gallagher

5th January 2022

Analysts at reinsurance broker Gallagher Re have reported that reinsurance pricing increased by over 50% for some European catastrophe business at the January 1 renewals. In its 1st View report on the critical renewal period, Gallagher Re observed “mixed outcomes” for both reinsurers and cedants, as a push for improved ... Read the full article

1/1 renewals “very late” as reinsurers maintain discipline: KBW

10th December 2021

Analysts at KBW have reported that 1/1 renewal negotiations for property and casualty (P&C) business are running “very late” as reinsurers have managed to remain disciplined on pricing in the lead-up. After meeting with several reinsurance company executives in Bermuda, KBW analysts are anticipating “solid rate increases overall” for P&C business ... Read the full article

Premium renewal rates still positive for most lines: IVANS

9th December 2021

IVANS, a division of Applied Systems, has announced the November results of its insurance premium renewal rate index, which show that year-over-year premium renewal rates remain positive for the majority of commercial lines. Month over month, premium renewal rates also increased for lines of business including Commercial Auto, Business Owners’ Policy ... Read the full article

AM Best maintains stable outlook on global reinsurance amid positive pricing momentum

8th December 2021

Heightened demand for protection, continued positive price momentum and a disciplined underwriting environment has seen ratings agency A.M. Best maintain its stable outlook on the global reinsurance industry. AM Best's latest reinsurance market segment report highlights some positive and negative factors for the sector as the new year edges closer. Underpinning the ... Read the full article

Re/insurance pricing undergoing “period of dislocation”: HX’s Flandro

29th November 2021

David Flandro, Managing Director at HX Analytics, has said that the re/insurance market is “clearly going through a period of dislocation” when it comes to pricing, with multiple factors set to influence trends at the upcoming 2022 renewals. Speaking as part of HX’s re/insurer earnings review for Q3, Flandro noted that ... Read the full article

Reinsurance pricing expectations high across lines, survey shows

26th November 2021

Data from the latest Reinsurance News market survey, undertaken in collaboration with our sister-site Artemis, shows that market participants overall are expecting price rises across all business lines next year, with loss-affected lines in particular forecast for large increases. The survey looked at responses from hundreds of identifiable market ... Read the full article

Re/insurers shift focus as renewal activity stalls, say analysts

24th November 2021

As insurers and reinsurers shift focus ahead of the key January 1st, 2022 renewals, there's uncertainties around the property catastrophe space while activity for 1/1 is reportedly behind schedule, according to Morgan Stanley. Analysts at Morgan Stanley recently hosted the firm's insurance corporate access day, which featured nine property and casualty ... Read the full article

Industry needs to reprice large parts of cat business: SiriusPoint’s Sankaran

19th November 2021

Sid Sankaran, Chairman and CEO of SiriusPoint, has argued that the re/insurance industry needs to reprice large parts of its property catastrophe business in order to generate acceptable net returns. Speaking as part of the company’s Q3 earnings call, Sankaran maintained that SiriusPoint remains committed to property reinsurance, but intends to ... Read the full article

Insurance pricing up 15% in Q3, led by cyber: Marsh

26th October 2021

Global commercial insurance prices increased by 15% in the third quarter of 2021, according to the latest Global Insurance Market Index released by re/insurance broker Marsh. It marks the 16th consecutive quarter of increases, but rates have continued to moderate in many lines of business and most geographies, suggesting that pricing ... Read the full article

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