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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.

Weak pricing outlook for mid-year renewals, says Arch CEO

9th May 2018

Marc Grandisson, President and Chief Executive Officer (CEO) of Arch Capital Group, has predicted that pricing trends at the mid-year renewals are likely to remain flat or even decrease, largely due to industry posturing. Speaking during the company's Q1 2018 earnings call, Grandisson explained that at the recent April 1 renewals ... Read the full article

The current reinsurance market is unsustainable, warn industry execs

30th April 2018

Put simply, the current state of the reinsurance market is unsustainable, and as the ability to subsidise margins with reserve releases diminishes, the sustainability of the overall insurance and reinsurance marketplace needs to be given some thought. This is according to industry experts and executives that spoke with A.M. BestTV at ... Read the full article

UK motor premiums fall ahead of whiplash & Ogden reforms: Fitch

20th April 2018

Fitch Ratings has reported that UK motor insurance premiums appear to be declining as re/insurers anticipate reforms to curb whiplash claims and revise the Ogden discount rate, which will reduce lump-sum payments for long-term care costs and lost earnings. UK motor premium prices have risen for the last three years, ... Read the full article

Reinsurance pricing stable to positive following costly nat cat year: Moody’s

18th April 2018

Moody’s has reported that January 1 reinsurance price renewals were lower than the market expected following a year of substantial natural catastrophe losses, but still expects reinsurers’ profitability to improve modestly based on rate increases, efficiency initiatives, and slowly rising interest rates. Costly disasters in 2017 like the series of Atlantic ... Read the full article

Commercial property rate increases ease following sharp rises: Willis

16th April 2018

Insurance and reinsurance broker Willis Towers Watson has reported that rate increases for commercial property re/insurance are easing after sharp rises in response to 2017’s record-breaking natural catastrophe losses, although it predicts that buyers will continue to face upward pricing pressure over 2018. In its 2018 Insurance Marketplace Realities report, the ... Read the full article

Market transition underway, but who knows if rate firming will persist: Chubb’s Greenberg

13th April 2018

After years of falling rates in the global property and casualty (P&C) industry, prices are starting to firm in some areas in response to 2017 catastrophe events, although it remains unclear just how long the positive rate momentum will last, according to Evan Greenberg, the Chairman and Chief Executive Officer ... Read the full article

Property capacity remained strong at April 1st renewals: Willis Re

11th April 2018

Broker Willis Re has reported that capacity for the property sector remained strong, both in the U.S and globally, despite April 1st renewal price increases being lower than anticipated. In its latest reinsurance renewals report, Willis Re found that April 1st renewal price increases were tempered by weak increases at January ... Read the full article

P&C business drives price increases for European reinsurers: RBC

10th April 2018

RBC Capital Markets has reported that, after several years of decline, 2018 pricing for European reinsurers is on the rise, with companies getting back to near term earnings growth, largely driven by Property and Casualty (P&C) business. RBC found that P&C reinsurance drove earnings growth as better-priced premium earned its way ... Read the full article

Flood Re suspends premium price increases

29th March 2018

Flood Re, the UK's flood reinsurance facility, has announced that this year it will freeze the premium prices it charges to insurers when they cede policies to the scheme, instead of imposing its usual annual increase in premium thresholds. This is the first time Flood Re has suspended premiums increases, as ... Read the full article

Munich Re to benefit from price increases and new markets, says Wenning

16th March 2018

In his annual letter to shareholders, Munich Re’s Chairman of the Board, Joachim Wenning, outlined a positive forecast for the company’s future, despite the challenges of 2017, citing rising reinsurance prices and new market opportunities for profitable business as factors that will drive growth. Wenning prefaced his outlook by acknowledging the ... Read the full article

U.S. commercial insurance prices show modest increase in Q4: Willis

13th March 2018

A survey by Willis Towers Watson’s Commercial Lines Insurance Pricing Survey (CLIPS) has revealed a slight increase in U.S commercial insurance prices in the fourth quarter of 2017, compared with the previous year. The survey found that price changes continued to average less than 1% for the 10th consecutive quarter, following ... Read the full article

Analysts predict increases in P&C reinsurance pricing and demand

12th March 2018

Insurance and reinsurance Industry analysts Keefe, Bruyette & Woods (KBW) and Morgan Stanley have suggested that the outlook for property and casualty (P&C) reinsurance is positive both in terms of pricing and demand. KBW notes that, although January 1st 2018 reinsurance rates were below most companies’ post-Q3 2017 expectations, reinsurance pricing ... Read the full article

XL CEO McGavick pleased to see firming but says market is still underpriced

21st February 2018

Speaking at the Bank of America Merrill Lynch 2018 Insurance Conference, Mike McGavick, the Chief Executive Officer (CEO) of insurer and reinsurer XL Group, said that despite rate improvements at the Jan 1st renewals, the market is still broadly underpriced. "I think the market very broadly is still underpriced. There are ... Read the full article

Reinsurance rate increases to continue throughout 2018: S&P

25th January 2018

Global ratings agency Standard & Poor's (S&P) expects average rate increases of between 0% to 5% across the board in the reinsurance industry throughout 2018, maintaining the momentum seen at the January 1st renewals. S&P notes that following the high level of catastrophe losses in 2017, reinsurance pricing increased, on average, ... Read the full article

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