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.

Flatter pricing cycle will help protect policyholders: Hannover Re’s Konrad Rentrup

24th June 2019

The flatter pricing cycle that reinsurers have experienced following recent catastrophe events will ultimately ensure that primary insurance policyholders continue to be provided with affordable and widely available coverage. This is according to Konrad Rentrup, President and CEO at Hannover Re Bermuda, who discussed the impact of recent pricing trends alongside ... Read the full article

Citizens to cap Florida rate increases at 4.7% following AOB reforms

19th June 2019

Citizens Property Insurance Corporation, the Florida state-run insurer, is seeking approval from its Board to cap its average premium rate increases at 4.7% following recent legislation designed to curtail assignment of benefits (AOB) abuse. If approved, the revised rate increases would be limited to nearly half the original 8.2% hikes ... Read the full article

P&C pricing to reach double-digit increases through 2H19: Credit Suisse

12th June 2019

Analysts at Credit Suisse have predicted that property and casualty (P&C) insurance pricing is due to enter hard market territory throughout the second half of 2019, with rate increases reaching into the double-digits. This forecast is more optimistic than the firm’s previous April update, when it forecast that pricing would firm ... Read the full article

Moody’s expecting stronger reinsurance sector profitability in 2019

11th June 2019

Analysts at Moody’s Investor Services are anticipating stronger reinsurance sector profitability in 2019, supported by significantly higher pricing in the property catastrophe market. The firm believes that reinsurers are entering the 2019 hurricane season with solid capital positions and should be able to comfortably withstand any potential losses arising from hurricanes. Reinsurance ... Read the full article

Commercial lines show “varied” rate changes in May: IVANS

7th June 2019

Commercial lines rate movements were “varied” across the month of May, according to the latest IVANS Index, with mixed results across the major lines of business. IVANS, which is a division of Applied Systems, observed an uptick in premium renewal rates for BOP, General Liability, and Commercial Property. In contrast, Commercial Auto, ... Read the full article

Rates to increase through April 2020 regardless of storm activity: Goldman Sachs

6th June 2019

Analysts at Goldman Sachs believe that catastrophe reinsurance and retrocession rates will continue to increase through to April 2020 regardless of how active this year’s storm season is. However, the firm does not believe that rate increases will continue into the June 2020 renewals and beyond without another above-year average loss ... Read the full article

Loss creep on casualty lines hardening rates across all sectors: AmWINS

30th May 2019

The continued deterioration of loss development on casualty lines has driven market hardening to a greater degree than was originally projected, according to analysts at specialty insurer AmWINS. The group’s State of the Market report for Q2 2019 noted that firming has spread out from segments such as New York construction, ... Read the full article

JMP predicts 15-20% rate hikes at June 1, says Jebi creep could reach $16bn

28th May 2019

Analysts at JMP Securities anticipate that overall pricing increases at the upcoming June 1 reinsurance renewals will be in the range of 15-20%, with wide variation among programs. The firm’s estimates follow meetings with re/insurers and brokers in Bermuda, which also revealed that many are expecting loss creep from Typhoon Jebi ... Read the full article

WTW integrates insurtech vendor Tia Technology into pricing platform

23rd May 2019

Global insurance and reinsurance broker Willis Towers Watson (WTW) has partnered with insurtech vendor Tia Technology to enhance the offering of its Radar Live price delivery software. WTW intends to integrate the Tia rating engine into Radar Live, allowing users to take full advantage of both systems and providing more frequent ... Read the full article

CIAB reports further increases for commercial P&C premium prices in Q1

20th May 2019

The Council of Insurance Agents & Brokers (CIAB) has reported that premium pricing across all-sized commercial property and casualty (P&C) accounts saw continued increases during the first quarter of 2019. Average pricing increases across all account sizes in Q1 2019 was 3.5%, according to CIAB, compared to 2.4% in Q4 2018 ... Read the full article

Commercial insurance prices continue growing at Q1, finds Marsh

17th May 2019

Global commercial insurance prices increased by 3% during the first quarter of 2019, according to data from re/insurance broker Marsh, marking a sixth consecutive quarter of price increases. Marsh also noted that the rate of growth in commercial insurance prices was at its highest since it began its survey in 2012. Regionally, ... Read the full article

Reinsurers must impose meaningful price differentiation in Florida: Demotech

15th May 2019

Reinsurers have thus far failed to impose meaningful pricing differentiation on Florida-focused insurers, according to financial analysis firm Demotech, but must do so to avoid the further commoditisation of catastrophe risk. Analysts noted that reinsurance and insurance-linked securities (ILS) may boost short-term profits by applying price increases across the board, but ... Read the full article

Commercial property rates firm as underwriting discipline improves: WTW

14th May 2019

Commercial insurance buyers are facing upward pressure on pricing for most lines of business for the remainder of 2019 as the market turns toward more disciplined underwriting, according to broker Willis Towers Watson (WTW). The analysis came as part of the firm’s Insurance Marketplace Realities 2019 Spring Update, which serves as ... Read the full article

Pricing to improve from current levels but become less cyclical: Berenberg

17th April 2019

The reality that profitability has to be achieved at current pricing levels has altered market expectations for insurers and reinsurers, and while analysts at Berenberg expect rates to improve from where they are today, going forward, pricing is expected to become less cyclical. Analysts highlight a challenging pricing environment for the ... Read the full article

Rate increases continue across most commercial lines at Q1: IVANS

12th April 2019

The Results of IVANS' index for Q1 2019 show that premium renewal rates increased across almost all major commercial lines of business when compared against the previous quarter. However, the General Liability renewal rate experienced a decrease while the Workers’ Compensation average dropped and remained in negative territory, consistent with the ... Read the full article