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.
UK motor premiums fall ahead of whiplash & Ogden reforms: Fitch
20th April 2018
Fitch Ratings has reported that UK motor insurance premiums appear to be declining as re/insurers anticipate reforms to curb whiplash claims and revise the Ogden discount rate, which will reduce lump-sum payments for long-term care costs and lost earnings. UK motor premium prices have risen for the last three years, ... Read the full article
Reinsurance pricing stable to positive following costly nat cat year: Moody’s
18th April 2018
Moody’s has reported that January 1 reinsurance price renewals were lower than the market expected following a year of substantial natural catastrophe losses, but still expects reinsurers’ profitability to improve modestly based on rate increases, efficiency initiatives, and slowly rising interest rates. Costly disasters in 2017 like the series of Atlantic ... Read the full article
Commercial property rate increases ease following sharp rises: Willis
16th April 2018
Insurance and reinsurance broker Willis Towers Watson has reported that rate increases for commercial property re/insurance are easing after sharp rises in response to 2017’s record-breaking natural catastrophe losses, although it predicts that buyers will continue to face upward pricing pressure over 2018. In its 2018 Insurance Marketplace Realities report, the ... Read the full article
Market transition underway, but who knows if rate firming will persist: Chubb’s Greenberg
13th April 2018
After years of falling rates in the global property and casualty (P&C) industry, prices are starting to firm in some areas in response to 2017 catastrophe events, although it remains unclear just how long the positive rate momentum will last, according to Evan Greenberg, the Chairman and Chief Executive Officer ... Read the full article
Property capacity remained strong at April 1st renewals: Willis Re
11th April 2018
Broker Willis Re has reported that capacity for the property sector remained strong, both in the U.S and globally, despite April 1st renewal price increases being lower than anticipated. In its latest reinsurance renewals report, Willis Re found that April 1st renewal price increases were tempered by weak increases at January ... Read the full article
P&C business drives price increases for European reinsurers: RBC
10th April 2018
RBC Capital Markets has reported that, after several years of decline, 2018 pricing for European reinsurers is on the rise, with companies getting back to near term earnings growth, largely driven by Property and Casualty (P&C) business. RBC found that P&C reinsurance drove earnings growth as better-priced premium earned its way ... Read the full article
Flood Re suspends premium price increases
29th March 2018
Flood Re, the UK's flood reinsurance facility, has announced that this year it will freeze the premium prices it charges to insurers when they cede policies to the scheme, instead of imposing its usual annual increase in premium thresholds. This is the first time Flood Re has suspended premiums increases, as ... Read the full article
Munich Re to benefit from price increases and new markets, says Wenning
16th March 2018
In his annual letter to shareholders, Munich Re’s Chairman of the Board, Joachim Wenning, outlined a positive forecast for the company’s future, despite the challenges of 2017, citing rising reinsurance prices and new market opportunities for profitable business as factors that will drive growth. Wenning prefaced his outlook by acknowledging the ... Read the full article
U.S. commercial insurance prices show modest increase in Q4: Willis
13th March 2018
A survey by Willis Towers Watson’s Commercial Lines Insurance Pricing Survey (CLIPS) has revealed a slight increase in U.S commercial insurance prices in the fourth quarter of 2017, compared with the previous year. The survey found that price changes continued to average less than 1% for the 10th consecutive quarter, following ... Read the full article
Analysts predict increases in P&C reinsurance pricing and demand
12th March 2018
Insurance and reinsurance Industry analysts Keefe, Bruyette & Woods (KBW) and Morgan Stanley have suggested that the outlook for property and casualty (P&C) reinsurance is positive both in terms of pricing and demand. KBW notes that, although January 1st 2018 reinsurance rates were below most companies’ post-Q3 2017 expectations, reinsurance pricing ... Read the full article
XL CEO McGavick pleased to see firming but says market is still underpriced
21st February 2018
Speaking at the Bank of America Merrill Lynch 2018 Insurance Conference, Mike McGavick, the Chief Executive Officer (CEO) of insurer and reinsurer XL Group, said that despite rate improvements at the Jan 1st renewals, the market is still broadly underpriced. "I think the market very broadly is still underpriced. There are ... Read the full article
Reinsurance rate increases to continue throughout 2018: S&P
25th January 2018
Global ratings agency Standard & Poor's (S&P) expects average rate increases of between 0% to 5% across the board in the reinsurance industry throughout 2018, maintaining the momentum seen at the January 1st renewals. S&P notes that following the high level of catastrophe losses in 2017, reinsurance pricing increased, on average, ... Read the full article
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