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.

COVID-19 reinsurance impact of $82bn could turn pricing: analysts

20th May 2020

Analysts at Morgan Stanley have estimated that a scenario including a projected COVID-19 reinsurance impact of $82 billion could lead to a turn in reinsurance pricing. Responding to the recent Lloyd’s of London pandemic estimate, which put the total cost to the re/insurance industry at $203 billion, Morgan Stanley tried ... Read the full article

FedNat CEO sees reinsurance rate increases as “extremely manageable”

18th May 2020

Mike Braun, the Chief Executive Officer (CEO) of FedNat Holding Company (FedNat), has said that while the firm expects reinsurance pricing to increase, movements are anticipated to be "extremely manageable" for the insurer. Speaking during the company's first-quarter 2020 earnings call, CEO Braun discussed FedNat's 2020-2021 reinsurance renewal amid an expectation ... Read the full article

Premium renewal rates up across most lines in April: IVANS

13th May 2020

The April results of the IVANS Index, a division of Applied Systems, show that nearly all lines of business experienced an increase in average premium renewal rate year-over-year. All lines saw an uptick compared with the same period last year, with the exception of Workers’ Compensation, which saw a decrease in ... Read the full article

Markel sees increased reinsurance pricing & demand for the foreseeable future: Co-CEO Whitt

13th May 2020

With insurers facing diminishing levels of capital amid the economic fallout from the ongoing COVID-19 coronavirus pandemic, executives at Markel Corporation are anticipating heightened demand for reinsurance protection and increased pricing for the foreseeable future. Unsurprisingly, first-quarter 2020 results announcements from insurers and reinsurers have largely focused on the current crisis. So ... Read the full article

Commercial insurance pricing up 14%, COVID-19 impact insignificant: Marsh

12th May 2020

Global commercial insurance pricing increased for the tenth consecutive quarter in the opening three months of 2020, while the impact of the ongoing COVID-19 pandemic on pricing dynamics proved to be insignificant, reports re/insurance broker Marsh. In the first-quarter of 2020, global commercial insurance pricing rose 14% on the back of ... Read the full article

COVID-19 pandemic is not an insured event, but a reputational one: WTW

7th May 2020

Insurance and reinsurance broker Willis Towers Watson (WTW) highlights an uncertain and pressured outlook for North American commercial insurance buyers in light of the COVID-19 pandemic. In its Insurance Marketplace Realities 2020 Spring Update, WTW predicts large reductions in insurable values but notes that overall, not one line of business predicts ... Read the full article

Large reinsurers to retake market share as rates harden: KBRA

13th March 2020

Analysts at Kroll Bond Rating Agency (KBRA) anticipate that large capacity reinsurers are set to begin retaking market share as pricing conditions harden. Despite top-line growth, KBRA sees these players as overcapitalised and ready to reclaim business they may have given away during the soft market. Going forward, the firm expects to ... Read the full article

US commercial insurance prices accelerate 6% in Q4: WTW

13th March 2020

US commercial insurance prices accelerated during the fourth quarter of 2019, according to re/insurance broker Willis Towers Watson (WTW), as the aggregate price change reported by carriers exceeded 6%. The result continues a trend of acceleration that has been observed over recent quarters, the firm found as part of its Commercial ... Read the full article

CIAB observes continued market hardening in Q4

28th February 2020

The Council of Insurance Agents & Brokers (CIAB) has reported that premiums continued to rise for all account sizes and all lines of business within the commercial property and casualty (P&C) market during the fourth quarter of 2019, with the exception of workers’ compensation. A recent market survey found that premium ... Read the full article

Casualty risk has been underpriced for a decade: Stephen Catlin

24th February 2020

Insurers have “significantly underpriced” casualty business over the past 10 years and could now be headed towards “a crisis of catastrophic proportions,” according to Stephen Catlin, the former founder of the Catlin Group and current CEO of Convex Group. Writing in Best’s Review this month, Catlin said a casualty pricing crisis ... Read the full article

Commercial insurance pricing up 11% in Q4, reports Marsh

12th February 2020

Global average commercial insurance prices increased by 11% in the fourth quarter of 2019, according to data released by re/insurance brokerage Marsh. The firm’s Global Insurance Market Index found that average price increases were driven mainly by growth in property insurance rates and financial and professional lines. Last quarter marked the ninth ... Read the full article

Premium renewal rate increases continue into 2020: IVANS

11th February 2020

Premium renewal rates have continued to improve into 2020, with increases across most major commercial lines products in January, according to the IVANs Index, a division of Applied Systems. The IVANS Index is released on a monthly basis as a data-driven report of current conditions and trends for premium rate renewal ... Read the full article

S&P optimistic about continued rate increases in 2020

17th January 2020

Analysts at S&P Global Ratings are “optimistic” about the continuation of re/insurance rate increases into 2020, following what they regard as an inflection point in 2019 for premium pricing. After a prolonger period of pricing remaining too low in many product lines, rates began to pick up momentum in 2018, before ... Read the full article

Tremor to bring unprecedented speed & accuracy to more deals, says CEO

14th January 2020

Tremor, the programmatic insurance and reinsurance risk transfer marketplace, is excited by its statistics after a successful 2019 and is looking forward to completing quicker, more accurate placements in 2020 and beyond. In August of 2018, Tremor announced that its open, technology-driven, programmatic reinsurance risk placement marketplace was ready for business, ... Read the full article

Downstream continues to lead hardening energy market: Marsh JLT Specialty

10th January 2020

Downstream continues to see the largest rate increases in an overall hardening energy re/insurance market, according to Marsh JLT specialty, although there are signs that the upstream sector could soon step up a gear. Analysts noted that market correction efforts accelerated relentlessly for downstream energy across all regions in the fourth ... Read the full article