Reinsurance News
property and casualty
Property and casualty insurance and reinsurance news, covering the P&C sector of the global marketplace.
P&C insurers to navigate continued natural catastrophe pressures: Fitch
3rd March 2025
Fitch Ratings, a provider of credit ratings, research, and analytics, forecasts that the property and casualty (P&C) insurance industry will continue to face challenges from volatile natural catastrophe risks in 2025. Despite these risks, Fitch believes that the industry's capital strength will enable re/insurers to absorb the impact of these losses, ... Read the full article
US P&C industry results improve in 2024 despite $2.6bn underwriting loss: AM Best
20th February 2025
The US property and casualty (P&C) insurance industry saw a significant improvement in its 2024 results, with momentum expected to continue into 2025, despite an estimated net underwriting loss of $2.6 billion in 2024, according to a recent AM Best report. AM Best attributes part of this progress to higher interest ... Read the full article
Conning: 77% of US insurers remain optimistic about 2025 investments despite rising concerns
14th February 2025
Conning, an asset management firm specialiSing in insurance investments, has released its annual Insurance Investment Risk survey, which reveals that while optimism remains high about the investment environment for the year ahead, there has been a slight dip in confidence compared to the previous year. 77% of the 310 US insurance ... Read the full article
There are lingering questions about long-term profitability of casualty business: Vickers, Gallagher Re
28th January 2025
In a recent video interview with Reinsurance News, James Vickers, Chairman of Gallagher Re’s International division, discussed the current state of the casualty reinsurance market, addressing key issues like pricing and capacity constraints. Vickers pointed out that while improvements have been made in terms of ... Read the full article
US P&C insurance to see slower premium growth in 2025: Swiss Re
9th January 2025
Swiss Re, a global reinsurance company, forecasts a slowdown in US property and casualty (P&C) insurance premium growth, balanced by easing claims pressures as US Consumer Price Index (CPI) inflation is projected to average 2.5% in 2025 and 2.4% in 2026, although profitability for the sector is expected to be ... Read the full article
Moody’s adjusts global P&C insurance outlook to stable
31st December 2024
Ratings agency Moody’s has changed its outlook for the global property and casualty (P&C) insurance sector to stable from negative for 2025. The stable outlook is driven by factors such as improved personal lines pricing adequacy, commercial lines pricing remaining supportive of healthy results, and the fact investment income is expected ... Read the full article
Reinsurer appetite up at Jan 1 as loss-free property cat rates fall 5-15%: Guy Carpenter
30th December 2024
Property catastrophe renewals were consistently oversubscribed at January 1 as reinsurer appetite increased more than demand, with a range of pricing outcomes as non-loss-impacted renewals saw risk-adjusted rate reductions of 5% to 15%, according to reinsurance broker Guy Carpenter. At the same time, and in contrast to that broader property cat ... Read the full article
American Atlantic Assurance Company to start underwriting in EU from January 1
18th December 2024
Applied Underwriters has announced the fully operational opening of American Atlantic Assurance Company’s underwriting facilities. Headquartered and domiciled in Malta, the new enterprise is to start underwriting on January 1, 2025. The 'A-' rated (AM Best) company, part of North American Casualty group, will support affiliated business divisions to provide property and ... Read the full article
Moody’s assigns A3 Rating to Fortitude Re’s operating subsidiaries
11th December 2024
The three main operating subsidiaries of Bermuda-based Fortitude Reinsurance Company Ltd. (Fortitude Re) have been assigned A3 Insurance Financial Strength Ratings by Moody's, with a stable outlook. The rating actions concern Fortitude Reinsurance Co. Ltd., Fortitude International Reinsurance Co. Ltd., and Fortitude Life Insurance and Annuity Co. As well as these assignments, ... Read the full article
9M’24 results show $4.1bn underwriting gain for US P&C industry: AM Best
4th December 2024
According to AM Best, the US property and casualty (P&C) industry posted a $4.1 billion net underwriting gain in the first nine months of 2024, in comparison to a $32.1 billion loss recorded in the prior year period. At the same time, the US P&C industry recorded a $130 billion net ... Read the full article
Commercial P&C premiums across all account sizes rise by 5.1% in Q3’24: CIAB
21st November 2024
In the third quarter of 2024, premiums across all account sizes rose by 5.1% within the commercial property and casualty (P&C) insurance market, roughly the same as the 5.2% recorded in the previous quarter, according to The Council of Insurance Agents & Brokers’ (CIAB) latest quarterly survey. In fact, Q3'24 marked ... Read the full article
Climate change to drive multi-year pricing cycle for Australian personal lines insurers: BofA Securities
18th November 2024
Analysts at BofA Securities are forecasting a multi-year pricing cycle for Australian personal lines insurers, which will be primarily driven by concerns surrounding the impacts of climate change and rising peril exposures. The firm highlighted how climate change inflation is already evident in Australian insurance results, with insured peril loss inflation ... Read the full article
Duck Creek expands global operations with new Center of Excellence in Poland
14th November 2024
Duck Creek Technologies, a provider of software solutions for property and casualty (P&C) and general insurance, has announced the launch of its second Center of Excellence (CoE) in Warsaw, Poland. This new facility, joining the existing CoE in India, boosts Duck Creek’s capacity to serve customers across EMEA and APAC by ... Read the full article
IQUW partners with mea to boost underwriting efficiency with AI-driven platform
12th November 2024
Property and specialty insurer and reinsurer IQUW has formed a strategic partnership with mea, an AI-powered processing platform for re/insurers, to enhance underwriting efficiency across its operations. This collaboration aims to improve IQUW’s productivity and service quality, aligning with its commitment to delivering smooth broker experiences. Currently active within IQUW’s Directors and ... Read the full article
Moody’s changes outlook to stable for Italian life insurance, P&C remains stable
12th November 2024
Ratings agency Moody's has changed its outlook for the Italian life insurance sector to stable from negative, and maintained its stable outlook for Italian property and casualty (P&C) insurers. Analysts highlighted how Italian life insurers were hit by record net outflows in 2023, which was a reflection of high surrenders of ... Read the full article
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