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.
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
Excess capital remains dominant price driver: JLT Re’s Ed Hochberg
10th September 2018
JLT Re, the reinsurance broking arm of global brokerage JLT Group, believes an absence of reinsurance rate increases following the the catastrophes of 2017 demonstrates how excess capital has more bearing on pricing than any other factor. Speaking in Monte Carlo today at the Reinsurance Rendez-vous, the Chief Executive Officer of JLT ... Read the full article
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