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.
Hiscox sees opportunities at hard 1/1: Kathleen Reardon
11th September 2022
Kathleen Reardon, Chief Executive Officer (CEO) at Hiscox Re & ILS, has said that she sees “interesting opportunities” for her company at the upcoming January 1st renewals, as signs point to continued reinsurance price increases. Speaking in a recent interview with Reinsurance News, Reardon explained that “the direction of travel currently ... Read the full article
Premium rates remain up YoY despite monthly fluctuations: IVANS
9th September 2022
Premium renewal rates for major commercial lines of business remain up year-over-year, according to the latest edition of the IVANS Index, despite fluctuations on a monthly basis. All lines of business expect Workers’ Compensation were up YoY, the Index shows, with BOP and Commercial Property showing the highest average increases. Month-over-month, BOP ... Read the full article
Reinsurance pricing to remain strong regardless of benign hurricane season: Morgan Stanley
7th September 2022
Analysts at Morgan Stanley have said reinsurance pricing will remain strong regardless of a potentially benign hurricane season in 2022. The report notes there have been no hurricanes in the first half of 2022's Atlantic storm season, with only three named tropical storms. Morgan Stanley reviewed the list of landfall hurricanes on ... Read the full article
Reinsurance sector to benefit from rising prices & strong investment income: Moody’s
6th September 2022
According to a Moody’s Investors Service report, reinsurance earnings will be strengthened by increasing prices and higher investment income amid rising interest rates. Catastrophe losses and a heightened perception of risk following the pandemic have fuelled an increase in demand for both primary commercial and reinsurance property and casualty (P&C) protection, ... Read the full article
Changes in risk appetite & models skepticism highlighted by AM Best
1st September 2022
Rating agency AM Bests’ latest reinsurance market report highlights that the global risk environment is continuing to get more complex, notably with traditional nat cat models being subjected to renewed scrutiny due to the increase in the frequency of events in the last five years. These events are usually attributable to ... Read the full article
Reinsurance rates to increase regardless of cat activity: Fitch
26th August 2022
Analysts at Fitch Ratings have argued that reinsurance rates will continue to harden during the January 2023 renewals, even in the absence of significant catastrophe losses throughout the second half of the year. In a new report, the rating agency notes that, at $34 billion, H1 worldwide insured natural catastrophe losses ... Read the full article
Marsh Index shows moderating trend for pricing through Q2
2nd August 2022
Global commercial insurance prices increased 9% in the second quarter of 2022, down from an 11% increase in Q1, according to the latest Global Insurance Market Index by re/insurance broker Marsh. While this does represent the 19th consecutive quarter of increases, analysts note that the rate of increase continued to moderate ... Read the full article
Rate increases will persist and could be in “low double-digit” region – Berenberg
27th July 2022
Berenberg expects rate increases in 2H 2022 to persist in loss-affected lines and programmes where loss experience has been elevated in recent years - and forecasts these to be in the low double-digit region. Reinsurers have been able to obtain price hikes of 10-30% in programmes with poor loss ... Read the full article
Nearly all commercial lines pricing up through Q2: IVANS
22nd July 2022
Average premium renewal rate changes of nearly all major commercial lines of business remain up year over year, according to the latest edition of the IVANS Index while all lines increase month over month except Umbrella. The Q2 results showed that premium renewal rate change for all major commercial lines of ... Read the full article
Increasing signs a true hard market may be near, say analysts
21st July 2022
Analysts at JMP Securities have said there are increasing signs that a “true hard market may be near” in the property catastrophe reinsurance space, following the mid-year renewal period. The firm notes that the June and July renewals showed “some characteristics of a true hard market.” These included capacity shortfalls where underwriters ... Read the full article
Gallagher Re finds pricing in Florida market up by 50% in spots
1st July 2022
Gallagher Re’s latest mid-year renewals report has found that pricing in some cases in the Florida market has increased by up to 50%. The report found that reinsurers had continued in their efforts to de-risk portfolios and manage net PMLs. It also found that some had existed the Florida market completely. ... Read the full article
Economic pressures drive widespread rate increases at 1/7: Gallagher Re’s Vickers
1st July 2022
The pressures of inflation and rising interest rates caused reinsurers to remain cautious at the July renewals, which resulted in much less available capacity for buyers and higher prices across the board. This is according to James Vickers, Chairman International, Reinsurance, at Gallagher Re, who spoke to Reinsurance News about July ... Read the full article
Capacity withdrawal “bodes well” for reinsurance pricing: analysts
17th June 2022
Analysts at Morgan Stanley have said that widespread plans to pull back from the property catastrophe market should “bode well” for reinsurance pricing into 2023. Morgan Stanley says it has observed “many reinsurers” pulling back from the property cat market even as reinsurance capacity growth has returned to healthy levels following ... Read the full article
Premium renewal rates continue upwards trajectory: IVANS Index
17th June 2022
Nearly all average premium renewal rates for major commercial lines of business remain up year-over-year and increased compared to last month, according to the May results of the the insurance premium renewal index by IVANS, a division of Applied Systems. Year over year, the index shows that nearly all lines of ... Read the full article
Nat cat pricing momentum should last 2+ years: Swiss Re CUO
9th June 2022
Thierry Léger, Chief Underwriting Officer (CUO) of Swiss Re, has said that price momentum in natural catastrophe reinsurance lines should last for at least another 1-2 years at today's rate and potentially for longer. Speaking at the Goldman Sachs European Financials Conference in Rome earlier this week, Léger explained that Swiss ... Read the full article