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.
Modest downturn for commercial lines rates in January: IVANS
11th February 2019
Most major U.S commercial product lines experienced a downward trend in premium renewal rates during January 2019, according to the latest monthly results of the IVANS Index, which tracks commercial re/insurance pricing. IVANS, which is a division of Applied Systems, observed a negative change in average premium renewal rates across the ... Read the full article
JLT Re highlights soft market as capacity chasing persists
1st February 2019
Based on the 2018 Florida catastrophe renewal, firm order terms (FOT) rate-on-lines (ROL) trended towards the lower end of quotes as capacity chasing continued in the marketplace, according to reinsurance broker JLT Re. In its recently published study of property catastrophe reinsurance pricing - based on 2018 Florida cat renewal, JLT ... Read the full article
40% retro hike to bump property reinsurance pricing to double digits: Credit Suisse
28th January 2019
Property reinsurance price increases are expected to rise from current low-single digit levels to double-digits as 2019 progresses, according to analysts at multinational investment bank and financial services firm Credit Suisse. Credit Suisse underlines the ~40% retrocessional pricing increase reinsurers have faced, following substantial retro market losses in both 2017 and ... Read the full article
Personal lines rate changes driven by improved margins and desire for growth: KBW
28th January 2019
Much-improved margins and the accompanying, and predictably widespread, desire for top-line growth should translate into steadily-declining personal lines rate changes, according to Keefe, Bruyette & Woods (KBW). KBW expects most commercial lines’ rates to rise in response to weak underwriting profits, although workers compensation rates should keep falling, probably more slowly ... Read the full article
Zurich CEO optimistic about P&C rates in 2019
25th January 2019
Mario Greco, Chief Executive Officer of Zurich Insurance Group, has said that the company is optimistic about the prospects for property and casualty (P&C) re/insurance pricing in 2019. Speaking in an interview with CNBC at the World Economic Forum 2019 event in Davos, Switzerland this week, Greco said that market conditions ... Read the full article
Modest, regionalised price increases expected throughout 2019: S&P
24th January 2019
Despite reinsurers globally holding out for meaningful pricing movement after shouldering roughly a quarter of the $80 billion insured losses throughout 2018, S&P Global Ratings expects the modest, increasingly regionalised price increases seen at the January renewals to persist throughout 2019. Furthermore, the rating agency believes that 2018’s losses exceeded cat ... Read the full article
California homeowners’ market hardens after wildfire losses: MarketScout
23rd January 2019
California homeowners’ rates climbed in the fourth quarter of 2018 as insurers reacted to historic levels of wildfire losses, according to data from MarketScout. Analysts noted that the market appears to be hardening, with rates for homes under $1 million increasing by 3% and by 2% for homes under $1 million. Additionally, ... Read the full article
Cat-exposed property lines to see double-digit rate increases: AmWINS
23rd January 2019
The property re/insurance market experienced some firming at the recent January renewals, which could translate into double-digit rate increases for catastrophe-exposed business as we progress further into the year, according to analysts at AmWINS. The specialty insurer added that spikes of up to 40% were “not out of the question” for ... Read the full article
Rate increases “better than planned” across specialty classes: Peel Hunt
22nd January 2019
Rate increases across specialty insurance classes have been “better than planned” over the last two months, according to analysts at Peel Hunt. The firm pointed to improvements in classes such as marine, energy and property, but noted that rates are still coming off the bottom of the cycle and need to ... Read the full article
Reinsurance pricing to “trend up modestly” through 2019: KBW
22nd January 2019
Analysts at Keefe, Bruyette & Woods (KBW) are anticipating that reinsurance pricing will “trend up modestly” as growth in demand outpaces the ongoing abundance of capacity. The firm acknowledged that the vast amount of third-party capital in the market will likely result in much smaller post-loss pricing swings than in the ... Read the full article
“Armageddon scenario” needed to turn reinsurance pricing: Jason Howard
18th January 2019
With roughly $600 billion of capital still flowing through the reinsurance market after a succession of costly catastrophe years, large-scale hardening outside of an “armageddon scenario” seems extremely unlikely, according to the Chief Executive Officer of reinsurance brokerage Beach & Associates, Jason Howard. Addressing an audience yesterday in the Old Library ... Read the full article
Limited room for reinsurance rates to decline further: Peel Hunt
16th January 2019
With returns across the reinsurance industry slipping below the cost of capital, there is little room left for rates to decline from their current level, according to analysts at Peel Hunt. Peel Hunt noted that reinsurance rates are still at the bottom of the recent pricing cycle, and will only improve ... Read the full article
Rates diverge between loss-affected accounts at 1/1 renewals: Peel Hunt
15th January 2019
Property catastrophe re/insurance rates fell by an average of 1% at the January renewals, but there was a wide divergence in trends between loss-affected and loss-free accounts, according to analysts at Peel Hunt. The firm attributed some of the muted results at the recent 1/1 renewals to the focus on European ... Read the full article
London marine energy market “chaotic” but hardening: JLT
15th January 2019
The London marine energy re/insurance market continues to exhibit “chaotic and undisciplined” underwriting practices but finally seems to be emerging from a prolonged period of softening rates, according to analysts at JLT. The firm’s latest quarterly energy report observed that the predominately younger workforce in the London and Lloyd’s markets has ... Read the full article
European re/insurers to maintain stable pricing through 2019: Deutsche Bank
15th January 2019
Most European insurers and reinsurers are likely to maintain existing pricing trends through 2019 as last year’s catastrophe losses look set to keep the market stable for now, according to analysts at Deutsche Bank. A recent report from the firm noted that loss activity (particularly in the U.S) was lower year-on-year ... Read the full article
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