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.

London Market insurers well-placed for pricing tailwind: Goldman Sachs

31st August 2021

Analysts at Goldman Sachs see London Market insurers as well placed to benefit from the current tailwind to insurance pricing, after delivering attractive returns over the insurance cycle. Following an acceleration of reinsurance pricing in 2020, analysts now believe pricing is moderating at attractive levels, which should lead to above cycle ... Read the full article

P&C premiums up 8.3% over Q2, finds CIAB survey

27th August 2021

A new market survey by the Council of Insurance Agents & Brokers (CIAB) has found that property and casualty (P&C) rates increased for the 15th consecutive quarter in Q2 2021 at 8.3%, down from 10% in the previous quarter. Both medium and large accounts experienced the highest increases, at 9.4% and ... Read the full article

More price rises needed to offset Lloyd’s losses: analysts

27th August 2021

Analysts at insight and consultancy firm Insurance DataLab have stressed that, despite substantial rate increases over recent months, further price rises will be needed to offset losses within the Lloyd’s market. Lloyd’s premiums have increased by more than 50% year-on-year in every quarter since the start of the pandemic, the firm ... Read the full article

Premium rates up across commercial lines in July: IVANS

12th August 2021

IVANS, a division of Applied Systems, has announced the May results of its insurance premium renewal rate index, which show that average premium renewal rates experienced an uptick across most major commercial lines. Month over month, premium renewal rates rose for lines of business including BOP, General Liability, Commercial Property, Umbrella ... Read the full article

D&O pricing up through Q2, finds Aon

6th August 2021

A new report by Aon Commercial Risk Solutions (US) has found that public Directors’ and Officers’ (D&O) liability pricing continued to increase through the second quarter of 2021. The pricing index of D&O insurance increased to 1.84 from 1.43 in the previous quarter, while the average cost of $1 million in ... Read the full article

Low claims levels keep downward pressure on UK motor premiums: WTW

21st July 2021

Low claims levels of claims over the past year due to COVID lockdowns have resulted in a third consecutive quarter of falling car insurance premiums in the UK, according to the latest Confused.com Car Insurance Price Index in association with Willis Towers Watson (WTW). The index found that comprehensive car insurance ... Read the full article

Commercial property rates up 9.6% in Q2: MarketScout

2nd July 2021

Data from MarketScout shows that commercial property rates increased by 9.6% over the second quarter of 2021, as pricing continued to increase despite moderation in some lines of business. Other lines with significant rate increases over Q2 included business interruption up 7%, umbrella/excess up 11.6%, commercial auto up 9%, and D&O ... Read the full article

Reinsurance market approaching equilibrium: Willis Re 1st View

1st July 2021

Willis Re has reported that reinsurance rate increases continued for most major lines and territories during the June and July renewal period, although in many cases reinsurers had to accept firm order terms below their initial quotes. That indicates that the market is approaching equilibrium, the reinsurance broker says in its ... Read the full article

Reinsurance rate increases outstripped claims inflation through Q1: Willis Re

17th June 2021

Analysts at Willis Re have observed an improvement in underlying profitability among global re/insurers in the first quarter of 2021, as rate increases for both reinsurance and commercial insurance lines of business continued to outstrip claims inflation. Claims inflation has been flagged as one of the key challenges facing the re/insurance ... Read the full article

Aon forecasts shifting re/insurer priorities as pricing moderates

14th June 2021

As part of its Global Market Overview report, broker Aon has forecasts that key longer-term issues are likely to gain relevance in re/insurer appetite and rating models, as the world emerges from the COVID-19 pandemic and as pricing momentum slows. Aon is predicting moderation in rate increases as re/insurers begin to ... Read the full article

Morgan Stanley forecasts slowdown in P&C rate growth

14th June 2021

Analysts at Morgan Stanley are foreasting a deceleration in property and casualty (P&C) insurance rates as lines begin to approach pricing adequacy. At present, overall rate increases continue to remain positive and above loss trend, as evidenced by improvement in Q1 commercial lines margins. But Morgan Stanley believes the evidence now points ... Read the full article

WTW reports uptick in commercial insurance rates through Q1

10th June 2021

US commercial insurance prices increased again during the first quarter of 2021, according to the latest Commercial Lines Insurance Pricing Survey (CLIPS) by broker Willis Towers Watson (WTW). The survey compared prices charged on policies underwritten during the first quarter of 2021 to those charged for the same coverage and quarter ... Read the full article

Reinsurance pricing strength to continue into Jan 2022: Moody’s

4th June 2021

Analysts at Moody’s have noted that the 2021 Atlantic hurricane season activity looks set to be “well above long-term historical averages,” which could result in continued pressure on reinsurance rates. According to forecasters, the combination of warmer than average sea surface temperatures in the tropical Atlantic Ocean and Caribbean Sea, weaker ... Read the full article

Premium renewal rates up across almost all major lines: IVANS

14th May 2021

Looking at premium renewal rates over the month of April, the latest data from the IVANS Index shows that nearly all lines of business experienced an increase in pricing. This was with the exception of Workers’ Compensation lines, which continued to see negative premium renewal rates last month. IVANS, a division of ... Read the full article

Capacity is adequate, demand is high: GC’s Peter Hearn

5th May 2021

Peter Hearn, Chief Executive Officer of reinsurance broker Guy Carpenter (GC), has maintained that, despite some moderation in pricing over Q1, reinsurance market capacity remains adequate, and demand is high. The Guy Carpenter global property catastrophe rate online index increased just under 5% at the January 1 reinsurance renewals. And similarly, for ... Read the full article