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.

GIC Re’s pricing revisions cause Indian property rates to soar

20th March 2019

Companies in a number of Indian industries have seen their property insurance rates soar by as much as eight times after the country’s only active domestic insurance, GIC Re, revised the rates at which it provides reinsurance. This is according to reports from The Times of India, who said that corporates ... Read the full article

Re/insurers to benefit from specialty & investment tailwinds: Peel Hunt

18th March 2019

Rising specialty insurance rates and higher investment income due to an increase in U.S interest rates are expected to provide a welcome tailwind to the re/insurance industry in 2019, according to analysts at Peel Hunt. The firm also anticipates a stable reinsurance market ahead of the Japan and U.S renewals in ... Read the full article

Uptick across most commercial lines rates in February: IVANS

18th March 2019

The February results of the IVANS Index show a year-on-year increase in premium renewal rate change across all major commercial lines of business, with the exception of Workers’ Compensation. IVANS, which is a division of Applied Systems, also observed a month to month uptick in premium renewal rate change across Commercial ... Read the full article

U.S commercial insurance prices continue to rise in Q418, finds WTW

11th March 2019

A survey conducted by global re/insurance brokerage Willis Towers Watson (WTW) has found that U.S commercial insurance prices rose by just under 2% during the fourth quarter of 2018. WTW’s latest Commercial Lines Insurance Pricing Survey (CLIPS) compared prices charged on policies underwritten in Q418 to those charged for the same ... Read the full article

Rate increases at April renewals to vary widely by product & client: JMP

27th February 2019

JMP Securities is anticipating significant reinsurance pricing increases at the upcoming April 1 renewals, with increases varying by as much as 5-30% depending on product and client. After meeting with re/insurers in Japan ahead of the renewals, analysts at JMP expect average rate increases to push into the double digits, but ... Read the full article

Property reinsurance rates “inexplicably flat” at 1/1, says Markel’s Whitt

11th February 2019

Richard Whitt, Co-Chief Executive Officer (CEO) and Director of Markel Corporation, has said that property reinsurance rates were “inexplicably flat” at the recent January renewals. Speaking during a company earnings call, Whitt noted that reinsurance rates were disappointing at the 1/1 renewals despite two consecutive years of heavy catastrophe losses across ... Read the full article

Investor losses drive retro pricing hikes amid flat 1/1 market: A.M. Best

11th February 2019

Large catastrophe losses and ongoing loss creep resulted in pricing hikes of up to 35% for the retrocession segment at the January 2019 renewals, as investors pushed for higher returns amid a predominantly flat rating environment, according to A.M. Best. Analysts said that property catastrophe retrocession was the brightest spot at ... Read the full article

Modest downturn for commercial lines rates in January: IVANS

11th February 2019

Most major U.S commercial product lines experienced a downward trend in premium renewal rates during January 2019, according to the latest monthly results of the IVANS Index, which tracks commercial re/insurance pricing. IVANS, which is a division of Applied Systems, observed a negative change in average premium renewal rates across the ... Read the full article

JLT Re highlights soft market as capacity chasing persists

1st February 2019

Based on the 2018 Florida catastrophe renewal, firm order terms (FOT) rate-on-lines (ROL) trended towards the lower end of quotes as capacity chasing continued in the marketplace, according to reinsurance broker JLT Re. In its recently published study of property catastrophe reinsurance pricing - based on 2018 Florida cat renewal, JLT ... Read the full article

40% retro hike to bump property reinsurance pricing to double digits: Credit Suisse

28th January 2019

Property reinsurance price increases are expected to rise from current low-single digit levels to double-digits as 2019 progresses, according to analysts at multinational investment bank and financial services firm Credit Suisse. Credit Suisse underlines the ~40% retrocessional pricing increase reinsurers have faced, following substantial retro market losses in both 2017 and ... Read the full article

Personal lines rate changes driven by improved margins and desire for growth: KBW

28th January 2019

Much-improved margins and the accompanying, and predictably widespread, desire for top-line growth should translate into steadily-declining personal lines rate changes, according to Keefe, Bruyette & Woods (KBW). KBW expects most commercial lines’ rates to rise in response to weak underwriting profits, although workers compensation rates should keep falling, probably more slowly ... Read the full article

Zurich CEO optimistic about P&C rates in 2019

25th January 2019

Mario Greco, Chief Executive Officer of Zurich Insurance Group, has said that the company is optimistic about the prospects for property and casualty (P&C) re/insurance pricing in 2019. Speaking in an interview with CNBC at the World Economic Forum 2019 event in Davos, Switzerland this week, Greco said that market conditions ... Read the full article

Modest, regionalised price increases expected throughout 2019: S&P

24th January 2019

Despite reinsurers globally holding out for meaningful pricing movement after shouldering roughly a quarter of the $80 billion insured losses throughout 2018, S&P Global Ratings expects the modest, increasingly regionalised price increases seen at the January renewals to persist throughout 2019. Furthermore, the rating agency believes that 2018’s losses exceeded cat ... Read the full article

California homeowners’ market hardens after wildfire losses: MarketScout

23rd January 2019

California homeowners’ rates climbed in the fourth quarter of 2018 as insurers reacted to historic levels of wildfire losses, according to data from MarketScout. Analysts noted that the market appears to be hardening, with rates for homes under $1 million increasing by 3% and by 2% for homes under $1 million. Additionally, ... Read the full article

Cat-exposed property lines to see double-digit rate increases: AmWINS

23rd January 2019

The property re/insurance market experienced some firming at the recent January renewals, which could translate into double-digit rate increases for catastrophe-exposed business as we progress further into the year, according to analysts at AmWINS. The specialty insurer added that spikes of up to 40% were “not out of the question” for ... Read the full article