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.

European reinsurance pricing to continue improving through 2019: Barclays

18th December 2018

Reinsurance prices in the European market should continue to gradually improve throughout 2019 as demand goes up and capacity becomes more constrained, according to analysts at multinational investment bank Barclays. Barclays estimates that the reinsurance industry is set to incur around $70 billion in large loss claims this year, which is ... Read the full article

German non-life rates to continue rising through 2019: Fitch

17th December 2018

German non-life re/insurers are likely to continue raising their premium rates throughout 2019 to maintain profitability as the sector deals with increasing costs per claim and dwindling investment returns, according to a new report by Fitch Ratings. The rating agency forecasts overall premium growth of 2.3% in the sector, largely driven ... Read the full article

Alternative capital growth to further restrict pricing cycles: Swiss Re

14th December 2018

Alternative capital has matured into an integral player in the property catastrophe reinsurance and retrocession markets, but its continued growth is likely to further curb the volatility of the overall underwriting cycles, according to a report from the Swiss Re Institute. Over the last decade, the alternative capital market has become ... Read the full article

U.S commercial insurance prices continue to rise over Q3, finds WTW

12th December 2018

Commercial insurance prices in the U.S increased by 2% over the third quarter of 2018, according to re/insurance broker Willis Towers Watson’s (WTW) Commercial Lines Insurance Pricing Survey (CLIPS). The survey established that prices rose materially in commercial auto, commercial property and excess/umbrella liability for a second consecutive quarter. Price changes ... Read the full article

Demand for non-life reinsurance to increase in 2019: A.M. Best

11th December 2018

Demand for non-life reinsurance is expected to increase over 2019, according to A.M. Best, due primarily to factors such as the return of U.S economic growth, as well as global growth and benefits from the U.S federal tax reform. Analysts at A.M. Best believe these conditions will provide opportunities for organic ... Read the full article

Citizens proposes 8.2% rate increases for Florida homeowners in 2019

11th December 2018

Citizens Property Insurance Corporation, the state-run not-for-profit insurer, has proposed to increase its average premium rates by 8.2% in 2019, driven by costly water-damage claims in South Florida. If approved by the Citizens Board of Governors and the Florida Office of Insurance Regulation, the increase would impact personal lines policyholders from ... Read the full article

PI premiums to rise as construction market hardens, warns JLT Specialty

3rd December 2018

JLT Specialty, the specialist insurance broker and risk consultant, has warned that contractors could face a significant increase in professional indemnity (PI) premiums as the construction market begins to harden. Greater regulatory scrutiny and uncertainty regarding cladding systems following the Grenfell fire has led many insurers to scale back on capacity ... Read the full article

Reinsurance sector struggling to keep pace with cost of capital: S&P

30th November 2018

With only modest pricing increases experienced over 2018 and momentum set to fade in 2019, the global reinsurance sector may find it increasingly difficult to keep pace with its cost of capital, according to S&P Global Ratings. The rating agency noted that last year the reinsurance sector generated returns on capital ... Read the full article

Everest Re optimistic about 2019 renewals, reports Goldman Sachs

30th November 2018

Global reinsurer Everest Re is optimistic about the pricing outlook for reinsurance renewals over 2019, anticipating rate increases across property catastrophe, specialty and casualty lines, according to analysts at Goldman Sachs. After a series of meetings with Everest Re’s management, including its CEO, CFO and presidents of the Reinsurance and Insurance ... Read the full article

Reinsurers to see localised rate increases over 2019: Goldman Sachs

26th November 2018

Although overall reinsurance pricing momentum overall is likely to slow going into 2019, Goldman Sachs expects to see localised rate increases in some areas that have experienced heavy catastrophe losses over 2018. In Japan, Goldman Sachs predicted that the $8 billion loss from Typhoon Jebi (with a $2 billion reinsurance attachment) ... Read the full article

Downstream energy sector to see turnaround after years of losses: WTW

23rd November 2018

Price increases in the downstream energy re/insurance sector are now inevitable after years of unprofitable returns and major losses, according to re/insurance broker Willis Towers Watson (WTW). The November 2018 edition of the firm’s Energy Market Review noted that 2017 was the second worst underwriting year on record for the sector ... Read the full article

Commercial insurance pricing continues to rise at Q3: Marsh

23rd November 2018

Average commercial insurance prices rose by just over 1% over the third quarter of 2018, marking the fourth consecutive quarter of pricing increases for the sector, according to the latest Global Insurance Market Index by re/insurance broker Marsh. The pricing trend has largely been driven by increases in property and financial ... Read the full article

Upstream energy sector remains profitable, but rate reductions unlikely: WTW

22nd November 2018

The upstream energy re/insurance sector looks set to continue its profitable trend in 2018, although insurers are reluctant to implement any further rate reductions as this fragile dynamic could be reversed by only a modest upturn in claims, according to re/insurance broker Willis Towers Watson (WTW). The November 2018 edition of ... Read the full article

Wildfires could boost P&C pricing and reduce risk appetite: Morgan Stanley

21st November 2018

With the recent outbreak of devastating wildfires in California marking two consecutive years of large losses in the state, analysts at Morgan Stanley have suggested that the property and casualty (P&C) re/insurance market could respond by raising prices and reducing its risk appetite. The firm said that the industry will have ... Read the full article

Zurich expects rates momentum to slow into 2019, says CFO Quinn

14th November 2018

Zurich Insurance Group continues to achieve rate increases across its property and casualty (P&C) lines, but it expects pricing momentum to slow down as it moves into 2019, according to Chief Financial Officer George Quinn. Speaking during a third quarter earnings call, Quinn explained that the overall rate changes experienced over ... Read the full article