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.

Rising P&C reinsurance rates put pressure on Caribbean cedents: A.M. Best

2nd November 2018

Primary property and casualty (P&C) insurers in the Caribbean market remained mired in a protracted soft market cycle, but rising reinsurance costs could force companies to introduce some much-needed rate increases, according to a report by A.M. Best. The rating agency noted that insurers were unable to implement rate enhancements in ... Read the full article

UK property rates remain under pressure despite weather losses: A.M. Best

25th October 2018

Conditions remain challenging for property insurers in the UK as strong competition and the availability of relatively cheap reinsurance put pressure on rates in spite of claims inflation, according to A.M. Best. A report by the rating agency found that the 100 largest UK insurers reported a combined underwriting loss in ... Read the full article

Michael will not meaningfully impact reinsurance pricing: J.P. Morgan

16th October 2018

Analysts at J.P. Morgan have claimed that even a loss towards the upper end of the range of initial insured loss estimates for Hurricane Michael would be manageable for the property and casualty (P&C) industry and unlikely to meaningfully affect reinsurance prices. Catastrophe modellers currently put the range of insured losses ... Read the full article

SCOR’s portfolio pricing “back at the 2014 level,” says P&C CEO Victor Peignet

15th October 2018

SCOR’s overall portfolio pricing is “now almost back at the 2014 level” in terms of technical ratio, and at the 2015 level for the return on risk-adjusted capital, according to Victor Peignet, Chief Executive Officer (CEO) of SCOR Global P&C. Speaking in an interview with Reinsurance News, Peignet said that SCOR ... Read the full article

Modest cat losses to pressure rates at 1/1 renewals: Goldman Sachs

8th October 2018

Reinsurance pricing is likely to come under further pressure at 1 January 2019 renewals due to below-average catastrophe losses over 3Q 2018 and a sustained influx of alternative capital, according to investment bank Goldman Sachs. Property catastrophe modelling firms estimate that insured industry losses over the third quarter of 2018 will ... Read the full article

Reinsurance pricing to decline at 1/1 renewals, says J.P. Morgan

3rd October 2018

Reinsurance pricing is set to decline at 1 January 2019 renewals in light of manageable catastrophe losses over the third quarter of 2018, as well as ongoing overcapitalisation and the robust appetite of alternative capital markets, according to analysts at J.P. Morgan. Commercial re/insurers and personal lines are likely to have ... Read the full article

Price to be the key driver for reinsurance buyers at 1/1: Survey

27th September 2018

Overall, almost 60% of respondents to our global reinsurance market survey feel that price will be the most important counterparty feature to reinsurance buyers at the January 2019 renewals. As part of the Reinsurance News and Artemis global reinsurance market survey, we asked industry participants to rank, by order of ... Read the full article

Pricing will remain flat at 1/1 renewals: Fitch Ratings

25th September 2018

Although reinsurance pricing improved to some extent over 2018, abundant levels of underwriting capacity continue to absorb any increase in reinsurance demand, meaning rates are not expected to improve significantly at 1 January 2019 renewals, according to Fitch Ratings. Rates improvements were greatest at the January renewals in 2018, but subsequent ... Read the full article

Unprecedented or unexpected event(s) needed to turn reinsurance pricing: Survey

21st September 2018

Just over 40% of respondents to the Reinsurance News and Artemis Reinsurance Market Survey believe that at least a $200 billion+ event or series of events is needed to meaningfully turn market pricing. Reinsurance News and insurance-linked securities (ILS) focused sister publication, Artemis, recently launched a survey designed to take ... Read the full article

Price cycles less pronounced, rates to fade out in 2019: S&P Global

20th September 2018

In the wake of Monte Carlo’s 62nd "Rendez-Vous de Septembre", S&P Global believes 2018 clearly demonstrated that price cycles have become less pronounced, reinforcing its belief that rate increases will fade out in 2019. The main reason for this pressure, S&P says, is the significant capacity of both traditional and alternative ... Read the full article

Engineering insurance rates continue downward trend: IMIA

18th September 2018

Engineering insurance rates are continuing their downward trend across all classes of business following the costliest hurricane season ever and a series of large construction claims, according to the International Association of Engineering Insurers’ (IMIA) Index 2018. The Index, which compares the movement of rates from a base point in 2010, ... Read the full article

Reinsurers acknowledge flatter pricing cycle: J.P. Morgan

14th September 2018

After speaking with reinsurance market participants at the annual meeting of the industry in Monte Carlo recently, analysts at J.P. Morgan believe there is a "widening acknowledgement that a flatter pricing cycle has emerged". During a prolonged soft market cycle, discussions at previous Monte Carlo conferences had often focused on pricing pressures ... Read the full article

Downward property cat pricing pressure expected at Jan renewals: Morgan Stanley

13th September 2018

Meetings at the recent Monte Carlo Reinsurance Rendez-Vous suggest downward property catastrophe pricing pressure of flat to -5% at the 2019 January renewals, reports Morgan Stanley. Furthermore, as signified by Markel’s acquisition of Nephila, traditional and alternative capital are converging and industry consolidation should continue as global reinsurers adapt to ... Read the full article

The cycle has “disappeared,” says SCOR’s Denis Kessler

11th September 2018

Denis Kessler, Chairman and Chief Executive Officer (CEO) of French reinsurance giant SCOR, has said that it is his “strong conviction” that the reinsurance pricing cycle has “disappeared” and is unlikely to return. Speaking during a debate on the third day of the Reinsurance Rendezvous event in Monte Carlo, Kessler acknowledged ... Read the full article

Further cat losses may impact casualty and specialty lines: JLT Re’s Harrison

11th September 2018

While property catastrophe lines of reinsurance would likely prove resilient to a second consecutive year of heavy catastrophe losses, casualty and specialty lines might feel the impact more severely, according to Keith Harrison, Chief Executive Officer (CEO) for UK & Europe at JLT Re. Both traditional reinsurers and alternative capital markets ... Read the full article