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.
US commercial insurance prices up “significantly” in Q1 2020: WTW
9th June 2020
Insurance and reinsurance broker Willis Towers Watson (WTW) has reported that U.S. commercial insurance prices "increased significantly" in the first-quarter of 2020 when compared with the same period in 2019. Continuing the momentum witnessed in the final quarter of last year, the aggregate price change reported by U.S. carriers exceeded 6% ... Read the full article
Premium renewal rates see downward turn in May: IVANS
5th June 2020
Month over month, premium renewal rates decreased across all major commercial lines, according to the May results of the IVAN Index, a division of Applied Systems. However, measured year over year, all lines of business saw an increase in average premium renewal rate. This is with the exception of Workers’ Compensation, which ... Read the full article
P&C rates up 9.6% amid pandemic: CIAB
29th May 2020
A new survey from the Council of Insurance Agents & Brokers (CIAB) has found that property and casualty (P&C) premium prices increased by an average of 9.6% in Q1 2020, as the COVID-19 pandemic puts further strain on the market. The figure compares to an average increase of 7.5% in Q4 ... Read the full article
COVID-19 reinsurance impact of $82bn could turn pricing: analysts
20th May 2020
Analysts at Morgan Stanley have estimated that a scenario including a projected COVID-19 reinsurance impact of $82 billion could lead to a turn in reinsurance pricing. Responding to the recent Lloyd’s of London pandemic estimate, which put the total cost to the re/insurance industry at $203 billion, Morgan Stanley tried ... Read the full article
FedNat CEO sees reinsurance rate increases as “extremely manageable”
18th May 2020
Mike Braun, the Chief Executive Officer (CEO) of FedNat Holding Company (FedNat), has said that while the firm expects reinsurance pricing to increase, movements are anticipated to be "extremely manageable" for the insurer. Speaking during the company's first-quarter 2020 earnings call, CEO Braun discussed FedNat's 2020-2021 reinsurance renewal amid an expectation ... Read the full article
Premium renewal rates up across most lines in April: IVANS
13th May 2020
The April results of the IVANS Index, a division of Applied Systems, show that nearly all lines of business experienced an increase in average premium renewal rate year-over-year. All lines saw an uptick compared with the same period last year, with the exception of Workers’ Compensation, which saw a decrease in ... Read the full article
Markel sees increased reinsurance pricing & demand for the foreseeable future: Co-CEO Whitt
13th May 2020
With insurers facing diminishing levels of capital amid the economic fallout from the ongoing COVID-19 coronavirus pandemic, executives at Markel Corporation are anticipating heightened demand for reinsurance protection and increased pricing for the foreseeable future. Unsurprisingly, first-quarter 2020 results announcements from insurers and reinsurers have largely focused on the current crisis. So ... Read the full article
Commercial insurance pricing up 14%, COVID-19 impact insignificant: Marsh
12th May 2020
Global commercial insurance pricing increased for the tenth consecutive quarter in the opening three months of 2020, while the impact of the ongoing COVID-19 pandemic on pricing dynamics proved to be insignificant, reports re/insurance broker Marsh. In the first-quarter of 2020, global commercial insurance pricing rose 14% on the back of ... Read the full article
COVID-19 pandemic is not an insured event, but a reputational one: WTW
7th May 2020
Insurance and reinsurance broker Willis Towers Watson (WTW) highlights an uncertain and pressured outlook for North American commercial insurance buyers in light of the COVID-19 pandemic. In its Insurance Marketplace Realities 2020 Spring Update, WTW predicts large reductions in insurable values but notes that overall, not one line of business predicts ... Read the full article
Large reinsurers to retake market share as rates harden: KBRA
13th March 2020
Analysts at Kroll Bond Rating Agency (KBRA) anticipate that large capacity reinsurers are set to begin retaking market share as pricing conditions harden. Despite top-line growth, KBRA sees these players as overcapitalised and ready to reclaim business they may have given away during the soft market. Going forward, the firm expects to ... Read the full article
US commercial insurance prices accelerate 6% in Q4: WTW
13th March 2020
US commercial insurance prices accelerated during the fourth quarter of 2019, according to re/insurance broker Willis Towers Watson (WTW), as the aggregate price change reported by carriers exceeded 6%. The result continues a trend of acceleration that has been observed over recent quarters, the firm found as part of its Commercial ... Read the full article
CIAB observes continued market hardening in Q4
28th February 2020
The Council of Insurance Agents & Brokers (CIAB) has reported that premiums continued to rise for all account sizes and all lines of business within the commercial property and casualty (P&C) market during the fourth quarter of 2019, with the exception of workers’ compensation. A recent market survey found that premium ... Read the full article
Casualty risk has been underpriced for a decade: Stephen Catlin
24th February 2020
Insurers have “significantly underpriced” casualty business over the past 10 years and could now be headed towards “a crisis of catastrophic proportions,” according to Stephen Catlin, the former founder of the Catlin Group and current CEO of Convex Group. Writing in Best’s Review this month, Catlin said a casualty pricing crisis ... Read the full article
Commercial insurance pricing up 11% in Q4, reports Marsh
12th February 2020
Global average commercial insurance prices increased by 11% in the fourth quarter of 2019, according to data released by re/insurance brokerage Marsh. The firm’s Global Insurance Market Index found that average price increases were driven mainly by growth in property insurance rates and financial and professional lines. Last quarter marked the ninth ... Read the full article
Premium renewal rate increases continue into 2020: IVANS
11th February 2020
Premium renewal rates have continued to improve into 2020, with increases across most major commercial lines products in January, according to the IVANs Index, a division of Applied Systems. The IVANS Index is released on a monthly basis as a data-driven report of current conditions and trends for premium rate renewal ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
