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.
Earnix and Exavalu to bring rating flexibility and modernise pricing with partnership
20th May 2024
Earnix, a provider of AI-based SaaS solutions, has partnered with Exavalu, an insurance digital advisory and system integration consulting firm, to help property and casualty (P&C) insurance carriers modernise pricing and rating flexibility. In a turbulent insurance market, where traditional pricing models are inflexible and antiquated, this partnership aims to combine ... Read the full article
European Insurers facing margin crush if premiums cannot be hiked, Bloomberg
13th May 2024
According to a new analysis by Bloomberg Intelligence, a sustainable margin recovery looks "increasingly challenging" for European insurers, with premiums needing to increase in real terms in order to prevent any erosion after a tripling of costs to 10.9% last year from 2022's 3.5%. BI noted that the bulk of expenses ... Read the full article
Tokio Marine HCC to expand pricing capabilities with Akur8’s Core Platform Solution
25th April 2024
Tokio Marine HCC has selected Akur8’s Core Platform Solution to fuel innovation and to build high-performing pricing models, produce analytics and report with ease for powerful insights, and facilitate knowledge sharing across entities. Akur8 built its platform explicitly for insurers and designed it to enhance pricing processes by using proprietary machine-learning ... Read the full article
Insurance pricing continues to moderate while rates decline in majority of regions, says Marsh
24th April 2024
Global commercial insurance rates climbed 1% in the first quarter of 2024, down from the 2% increase that was seen in the fourth quarter of 2023, according to the Global Insurance Market Index released by insurance broker and risk advisor and a business of Marsh McLennan, Marsh. Rates continued to be ... Read the full article
Verisk SBS appoints Taha Ahmad as Director of Pricing Solutions
27th March 2024
Verisk Speciality Business Solutions (Verisk SBS), a re/insurance software specialist, has recently announced the appointment of Taha Ahmad to the senior position of Director of Pricing Solutions. In this newly established position, Ahmad will oversee all aspects of pricing solutions, driving strategy and development efforts across Verisk SBS. Ahmad’s appointment reflects a ... Read the full article
Reinsurers “continue to have a solid path” relative to other insurance sub-sectors: Morgan Stanley
26th February 2024
According to a new report from Morgan Stanley, relative to other sub-sectors of insurance, reinsurers "continue to have a solid path", generating strong ROE, with robust underwriting and steady premium growth. Morgan Stanley noted that investors have been asking if the firm continues to favour reinsurers going forward, given the slower ... Read the full article
Insurtech Optalitix announces partnership with pricing platform Quantee
20th February 2024
Optalitix, an InsurTech that provides software pricing products to leading UK insurers, has partnered with Quantee, an insurance pricing platform. The two companies are working to create a solution that will enable insurers to quickly quote for business on aggregator sites, making it easier and more cost-effective to access customers. Through this ... Read the full article
Global insurance market sees moderate pricing pressures amid capacity expansion and underwriting flexibility: Aon
13th February 2024
In the fourth quarter of 2023, the global insurance market exhibited resilience in the face of inflationary pressures, according to the latest insights from Aon's Q4 Global Insurance Market Dynamics report. Despite inflationary forces, pricing in the insurance market remained relatively moderate. However, risks with challenged profiles and adverse loss experiences, such ... Read the full article
Re/insurers to see pricing momentum within casualty lines in 2024: W. R. Berkley CEO
26th January 2024
The re/insurance industry is to see broad-based pricing momentum within casualty lines in 2024, mainly driven by social inflation, according to Robert Berkley, Jr., President and CEO of W. R. Berkley Corporation. In addition to social inflation, the reinsurance marketplace, across the board and particularly on the treaty side, is starting ... Read the full article
MAPFRE collaborates with Akur8 to enhance pricing capabilities
26th January 2024
Spanish insurance company MAPFRE has selected insurtech Akur8’s RISK and RATE modules to boost their pricing capabilities. According to the announcement, this collaboration will empower MAPFRE’s actuarial team to build powerful, explainable pricing models and establish a robust predictive modelling framework. Specifically developed for insurers, the RISK and RATE modules solution is able ... Read the full article
Commercial P&C pricing cycle close to peak, says JP Morgan
6th December 2023
Analysts at JP Morgan have reported that the pricing cycle is "probably close to the peak" in commercial lines. Underlining the backdrop for this statement, JP Morgan's analysts highlighted that since 2018, prices in many lines of business on the wholesale side of the P&C re/insurance sector have seen "material price ... Read the full article
Cyber insurance pricing decreases for first time since 2018: Marsh
1st November 2023
Globally, cyber insurance pricing decreased by 2% in Q3 of 2023, compared to a 1% increase in Q2, marking this as the first quarter to record an average decrease since the second half of 2018, according to insurance broker and risk advisor Marsh, a business of Marsh McLennan. More broadly, Marsh's ... Read the full article
Positive pricing outlook for London Market insurers should support underwriting: Goldman Sachs
18th October 2023
At the first half of 2023 results - and while going through a hard market - pricing outlooks remain positive, which should support underwriting margins for London Market insurers, according to Goldman Sachs. At the same time, continued underwriting discipline from reinsurers - as they continue to feel the impact of ... Read the full article
Aviva partners with hyperexponential for pricing transformation
17th October 2023
Aviva’s Global Corporate and Specialty (GCS) team has announced it is using hyperexponential’s Pricing Decision Intelligence (PDI) platform, hx Renew, to deliver pricing models in record time. Thanks to hx Renew, the GCS team has been able to build 20 new insurance pricing models in just nine months. Now underwriters can ... Read the full article
Collaboration key to managing rising cost of cyber insurance: Resilience’s Hussain
28th September 2023
"Managing the rising cost of cyber insurance requires a collaborative approach across the industry... By working together, the industry can create a more resilient and sustainable market," suggests Rehan Hussain, Head of Underwriting in the UK and Europe at cyber risk solution company Resilience. Hussain's comments stem from an interview with ... Read the full article
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