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.
Casualty markets undergoing abrupt shift to profitability: Lockton
14th October 2019
Pricing adequacy has continued to increase across the US casualty re/insurance market, with some lines undergoing an abrupt shift to a renewed focus on profitability, according to global re/insurance brokerage Lockton. The umbrella and excess casualty markets in particular have seen a positive turn, Lockton said, with carriers now demanding higher ... Read the full article
Property underwriting improvements to continue through early 2020: Lockton
10th October 2019
Analysts at global re/insurance brokerage Lockton expect the more discerning approach of underwriters in the US property market to continue through at least into early 2020, based on performance this year. Lockton noted that there is still plenty of capital in the marketplace, but deployment is becoming tighter, leading to an ... Read the full article
P&C rate increases climb to 4% in third quarter: MarketScout
9th October 2019
US property and casualty (P&C) insurers continued to see rate increases in almost every industry and line of coverage during the third quarter of 2019, according to analysts at MarketScout. The composite rate increase in Q3 was 4%, climbing from 3% in the previous quarter. By line of coverage, auto underwriters increased ... Read the full article
Reinsurance pricing could be jeopardised by capital influx, reports suggest
4th October 2019
The much-improved pricing environment in the reinsurance sector could be jeopardised if catastrophe losses remain low for the rest of 2019, according to reports from the Financial Times, as an influx of alternative capital capacity returns to the market. The publication noted that reinsurers have benefited from lower level of natural ... Read the full article
D&O rates improve as carriers push to restore profitability: Fitch
30th September 2019
Premium pricing has improved significantly for directors and officers (D&O) liability in 2019 as carriers work to restore profitability, according to analysts at Fitch Ratings. Fitch noted that D&O liability business has seen several years of weaker performance, driven by flat premium growth and less favourable claims trends in a shifting ... Read the full article
Re/insurers reacting as “cracks” appear in casualty market: Peel Hunt
19th September 2019
Analysts at Peel Hunt have suggested that re/insurers are increasingly pushing for rate increases and management actions as “cracks” begin to appear in the casualty market. A new report by the firm noted that casualty claims trends have continued to deteriorate, triggering ongoing rate increases across US professional lines, a core ... Read the full article
Price increases will fall short of hard market: Canaccord Genuity
18th September 2019
While the industry seems confident that rates will continue to increase in 2020, analysts at Canaccord Genuity argue they will not be enough to move reinsurance into ‘hard market’ territory. Based on its meetings at the Reinsurance Rendezvous in Monte Carlo this year, Canaccord Genuity believes that the market is anticipating ... Read the full article
Jebi losses stabilising, set to drive price firming in April: JMP Securities
16th September 2019
Analysts at JMP Securities believe that insured losses from Typhoon Jebi appear to be stabilising in the region of $15 billion to $16 billion. If losses do ultimately settle at this level, the cost to the insurance and reinsurance industry will have been more than twice as high as initial estimates ... Read the full article
Reinsurers confident of further rate increases, reports Morgan Stanley
13th September 2019
Reinsurers largely seem confident that the pricing momentum built over 2019 will continue into 2020 as the industry pushes for more sustainable margins, according to analysts at Morgan Stanley. Morgan Stanley’s analysis was based on its conversations with reinsurers at the Rendezvous event in Monte Carlo this year, who mostly seemed ... Read the full article
Munich Re expects “further stabilisation” of rates: Torsten Jeworrek
11th September 2019
Munich Re is expecting to see “further stabilisation and price increases” in the reinsurance market, according to Torsten Jeworrek, a member of the company’s board of management. Speaking at a briefing during the Reinsurance Rendezvous event in Monte Carlo this week, Jeworrek said that the reinsurance industry had seen “a worldwide ... Read the full article
Reinsurance pricing is still too low, says Swiss Re CEO Mumenthaler
10th September 2019
Christian Mumenthaler, Chief Executive Officer (CEO) at Swiss Re, believes pricing in the property and casualty (P&C) reinsurance sector is still at an unacceptable level despite improvements over the last two years. Mumenthaler told Reinsurance News in a recent interview that he was confident the market would continue to bring pricing ... Read the full article
SCOR needs more pricing improvements to be sustainable, warn execs
9th September 2019
The property and casualty (P&C) reinsurance market has seen some “useful” price firming in 2019, but further increases will be required to put SCOR back on track for sustainable profitability, according to its management. Speaking at the Reinsurance Rendezvous event in Monte Carlo, Chief Executive Officer (CEO) Denis Kessler said that ... Read the full article
Stable reinsurance outlook underpinned by pricing & capital: Moody’s
3rd September 2019
Rating agency Moody’s has maintained its stable outlook for the global reinsurance industry going into 2020, with strong capitalisation and rising prices offset by low interest rates and falling reserve releases. Analysts at the firm noted that reinsurers’ regulatory and economic capital has remained resilient thanks to increased use of retrocession, ... Read the full article
Low cat losses & improved pricing boost European reinsurers’ H1 results: Fitch
2nd September 2019
The big four European reinsurers reported solid underwriting performance during the first half of 2019, with results boosted by limited natural catastrophe losses and an improved pricing environment, according to Fitch Ratings. The rating agency pointed to growing momentum for positive premium rate development at the June/July renewals, as well as ... Read the full article
Moderate rate increases across most commercial P&C lines in Q2: CIAB
27th August 2019
The Council of Insurance Agents & Brokers (CIAB) has reported that premium pricing increased across all-sized commercial property and casualty (P&C) accounts in the second quarter of 2019. Similarly, all lines of business saw slight to moderate pricing increases during the quarter, with the exception of workers’ compensation. Commercial property and commercial ... Read the full article