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.

Hannover Re expecting stable P&C prices at 1/1 renewals

10th September 2018

Hannover Re has announced that it is anticipating stability in property and casualty (P&C) reinsurance renewal prices and conditions overall for the treaty renewals at 1 January 2019. The German reinsurance giant acknowledged that the market environment continues to be challenging for P&C reinsurers, with rate increases lower than expected following ... Read the full article

Swiss Re anticipating “broadly stable” renewal rates, says CEO Mumenthaler

10th September 2018

Swiss Re is expecting reinsurance renewal rates to remain “broadly stable” given the current level of competition in the market environment, according to Christian Mumenthaler, Swiss Re’s Chief Executive Officer (CEO). Speaking in an interview with Reinsurance News, Mumenthaler said: “After many years of price erosion in major non-life insurance markets, ... Read the full article

“Flat but functional” property cat market is new norm: Willis Re CEO

9th September 2018

A “flat but functional” pricing environment for property catastrophe is likely to become the “new norm” for reinsurers following a fairly subdued year for renewals despite high catastrophe losses in 2017, according to James Kent, Global Chief Executive Officer (CEO) of Willis Re. Speaking at a press briefing during the first ... Read the full article

Economic momentum will not offset low insurance profitability: Swiss Re

9th September 2018

Current economic momentum is not enough to compensate for the phase of low profitability currently being experienced across most global non-life insurance markets, according to the latest sigma report from Swiss Re. The report found that insurers in major western markets and Japan need to improve underwriting margins by around 5 ... Read the full article

Aon’s public D&O pricing increases 6.1% at Q2 2018

3rd September 2018

Aon Risk Solutions (U.S) has reported in its quarterly pricing index of Directors’ and Officers’ liability (D&O) insurance that its D&O price per million was up 6.1% at Q2 2018 when compared with the prior year quarter, while average change for primary policies with the same limit and deductible increased ... Read the full article

Reinsurers adapting as alternative capital becomes permanent fixture: J.P. Morgan

31st August 2018

Reinsurers are adapting their business models in light of the market’s increasing reliance on alternative capital, which proved capable of absorbing large industry losses in 2017, and which may have ended the concept of ‘payback’ in the property & casualty (P&C) sector, according to analysts at J.P. Morgan. A report by ... Read the full article

Cyber capacity is plentiful at H1 while pricing remains flat: CIAB

6th August 2018

Capacity in the cyber re/insurance space has proven plentiful over the last six months, while the take up rate among clients has been consistently low and pricing has generally remained flat to down, according to the Council of Insurance Agents & Brokers (CIAB). Results for CIAB’s latest biannual Cyber Insurance Market ... Read the full article

Outlook for Jan 2019 reinsurance renewals negative: Deutsche Bank

26th July 2018

Deutsche Bank holds a negative outlook for January 2019 reinsurance renewals and does not expect pricing for July to gain significant momentum. The company cites an expectation that 2018 Q2 losses will be underestimated by the markets - despite a quiet quarter for natural catastrophe - while pricing data should support ... Read the full article

Price increases slow but sanity is returning to the market: Lancashire CEO

26th July 2018

Alex Maloney, the Group Chief Executive Officer (CEO) of Lancashire Holdings Limited, has said that while the firm has been able to take advantage of rate increases across most lines of business, pricing continues to decline from the peak witnessed at the January renewals. The specialty insurance and reinsurance group has ... Read the full article

SCOR’s H1 results highlight positive but fading price momentum

26th July 2018

Global insurer and reinsurer SCOR has reported its second-quarter and first-half 2018 results, which reveals a hit to its net income as a result of the U.S. tax reforms, as well as the continued deceleration in P&C pricing following the impacts of 2017 catastrophe events. The French re/insurer today reported net ... Read the full article

P&C pricing growth slows, say analysts

16th July 2018

Reinsurance pricing trends for property and casualty (P&C) lines appear to have slowed over 2Q18, with mid-year renewals modestly weaker than at January 1 and rates ranging from flat-to-down to modest increases for most lines, according to analysts. Keefe, Bruyette & Woods (KBW) noted that pricing trends were mixed overall, with ... Read the full article

Catastrophe market to remain highly competitive: Hannover Re CEO Wallin

13th July 2018

Natural catastrophe is set to remain the most competitive area for reinsurers, due primarily to an abundance of both traditional and alternative capital in the market, as well as the stability of catastrophe models following 2017’s huge losses, according to Ulrich Wallin, Chief Executive Officer (CEO) of Hannover Re. Speaking in ... Read the full article

Mixed mid-year pricing results for Florida property cat reinsurers: Willis Re

11th July 2018

Property catastrophe pricing has been mixed for reinsurers in Florida at mid-year renewals, as increased demand for some companies following 2017’s catastrophes was offset by further non-traditional capital entering the market, according to reinsurance broker Willis Re. Willis Re’s 1st View Report observed that companies that performed well in Hurricane Irma ... Read the full article

Headwinds curb positive marine rating movement: Willis Re

5th July 2018

Abundant capital across the marine space and continued pressures from both attritional losses and 2017’s hurricane trio Harvey, Irma and Maria is curbing pressure for upwards rating movement, according to Willis Re in its latest 1st View report. Additionally, regional catastrophe loss experience and specialism-specific performance have influenced renewal terms in ... Read the full article

Reinsurers must innovate to overcome pricing challenges: Hiscox’s McConnell

3rd July 2018

Reinsurers must respond to the challenges of the current pricing environment by innovatively adapting their portfolios and exposures, their use of technology, and their relationships with clients, according to Megan McConnell, Director of Underwriting, London at Hiscox. McConnell noted that reinsurance rates have not increased to the extent that was anticipated ... Read the full article