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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.

Capital inflows could dampen positive pricing momentum, says A.M. Best

26th February 2021

The inflow of new capital into the industry on the back of improving market conditions could have a detrimental effect on price improvements, although a number of "moving parts" could also have an influence, according to analysis by A.M. Best. The combination of heavy catastrophe loss years, the lower for longer ... Read the full article

January shows fluctuations in commercial lines rates: IVANS

26th February 2021

Commercial lines premium renewal rates fluctuated over the month of January, according to the latest results of the IVANS Index. IVANS, a division of Applied Systems, reported that all major lines of business showed an increase in average premium renewal rate year-over-year in January. This is with the exception of Workers’ Compensation, ... Read the full article

Reinsurance rates not yet in line with risks: Moody’s

25th February 2021

Analysts at Moody’s are predicting that reinsurance rates will continue to rise significantly throughout 2021, on the basis that operating returns are not compensating reinsurers for the risks they assume. While the January renewals did yield some positive pricing trends for reinsurers, rates are still remain well below levels seen in ... Read the full article

2020 losses overshadow reinsurance pricing gains: Moody’s

23rd February 2021

Reinsurers have reported “lackluster” results for 2020, according to analysts at Moody’s, who argue that the catastrophe and COVID-19 losses incurred last year overshadowed pricing gains. For the full year, Moody’s noted that reinsurers’ combined ratios were generally in the 102% to 110% range, even as investment gains helped to lift ... Read the full article

Home & motor rates to fall through 2021, says PwC

19th February 2021

Analysts at PwC believe that home and motor insurance prices in the UK are likely to fall through 2021 in response to changing regulations and the ongoing COVID-19 pandemic. In combination with growing levels of competition, PwC believes motor premiums could fall by 5-10% this year, while home insurance premiums could ... Read the full article

Selective says reinsurance costs outpacing primary rate increases

15th February 2021

Selective Insurance has reported that its reinsurance renewal prices at January 1 were in some cases higher than it expects to generate on the underlying insurance policies it sells. The company warns that the accelerating cost of reinsurance will likely impact its underwriting profitability over 2021, At the same time, it has ... Read the full article

Commercial insurance prices up 22% in Q4: Marsh

4th February 2021

New data from broker Marsh shows that global commercial insurance prices increased by 22% in the fourth quarter of 2020. The increase was the largest recorded since Marsh first released its Global Insurance Market Index in 2012, and follows year-on-year average increases of 20% in the third quarter of 2020 and ... Read the full article

January renewals were in-line with expectations, says RBC

3rd February 2021

Analysts at RBC Capital Markets have maintained that the January 1 reinsurance renewals were “in-line” with expectations, despite reports that pricing increases were more muted than many had hoped. “In all our time looking at and working in the sector, we cannot think of a time when the January reinsurance renewals ... Read the full article

Reinsurance to play “a larger role” in 2021 rate movements: RPS

29th January 2021

Analysts at Risk Placement Services (RPS), an MGA subsidiary of brokerage Arthur J. Gallagher, believe that reinsurance will “play a larger role in rates, capacity and terms” this year. While the impacts of the 2020 election and COVID-19 on the US economy remain uncertain, RPS is confident that the cost of ... Read the full article

Renewal rates variable across 2020: IVANS Index

28th January 2021

IVANS, a division of Applied Systems, has reported that average premium renewal rate changes across 2020 were “variable” for all lines of business when compared with the previous year. The Q4 results of the IVANS Index show an increase in the premium renewal rate change average across General Liability, Commercial Property, ... Read the full article

Insurance prices up 10% across Q3, finds WTW

7th December 2020

US commercial insurance prices grew significantly over the third quarter of 2020, according to Willis Towers Watson (WTW), with carriers reporting aggregate price changes of nearly 10%. The broker’s Commercial Lines Insurance Pricing Survey (CLIPS) found that price changes for nearly every line were consistent with the increases from the prior ... Read the full article

Jefferies forecasts multi-year reinsurance price increases

23rd November 2020

Analysts at financial services company Jefferies have forecast that reinsurance rate rises could continue beyond the 2021 renewals, leading to multi-year increases. “With the 2021 reinsurance renewals approaching, we expect prices to rise materially, and, as conditions in 2020 are reminiscent of 2001, multi-year rises may be possible,” analysts said. The firm ... Read the full article

IVANS reports softening in October premium rates

11th November 2020

Most commercial lines premium renewal rates continued to show upward growth year-on-year, according to the October results of the IVANS Index, a division of Applied Systems. However, compared to previous months this year, IVANS noted a slight softening of premium renewal averages in October. For instance, Commercial Auto lines saw premium renewal ... Read the full article

Reinsurance pricing “approaching adequacy,” says AXIS CEO Benchimol

5th November 2020

Albert Benchimol, President and CEO of Bermudian re/insurer AXIS Capital, has said he believes reinsurance pricing is “approaching adequacy” but that more rate action is needed beyond 2021 in some areas. Speaking in an earnings call alongside the release of AXIS’ Q3 results, Benchimol offered his perspective on the current ... Read the full article

“Reinsurance is in a state of flux”: Willis Re’s James Vickers

23rd October 2020

On the back of several years of unsatisfactory returns and the added challenges of COVID-19, Willis Re’s James Vickers has said that the reinsurance market finds itself “in a state of flux.” Vickers, who is Chair of Willis Re International, recently spoke to Reinsurance News about the state of the reinsurance ... Read the full article

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