Reinsurance News
property cat
Property cat rates still above what Everest needs to deploy in most markets: CEO, Williamson
4th February 2025
Despite property catastrophe reinsurance prices falling between 5% and 15% for loss free programmes at the January 1st, 2025, renewals, Jim Williamson, President and Chief Executive Officer (CEO) of Bermuda-based carrier Everest, has said that overall, rates are still above what's required for the firm to have appetite to deploy ... Read the full article
Reinsurance getting more competitive as capital levels rise, says Evercore
10th January 2025
According to Evercore's reinsurance renewals report, growth in dedicated reinsurance capital is expected to outstrip growth in demand, resulting in pressure being put on property catastrophe pricing that will likely accelerate throughout 2025. The firm noted that capital levels continue to increase and have reached new heights in 2024. Readers may ... Read the full article
Guy Carpenter global property cat ROL index down 6.6% at Jan 1 reinsurance renewals
6th January 2025
Reinsurance broker Guy Carpenter's latest Global Property Catastrophe Rate on Line (ROL) Index has fallen 6.6% at the January 1st, 2025, reinsurance renewals, which reflects the reported rate decreases seen across global property cat treaties. Guy Carpenter updates its Global and Regional Property Cat ROL Indices at key renewal dates, and ... Read the full article
Munich Re expects property cat pricing to plateau at Jan 1 renewals: CFO Jurecka
7th November 2024
Christoph Jurecka, Chief Financial Officer (CFO) of global reinsurer Munich Re, said this morning that he expects property catastrophe reinsurance rates, overall, to be flat on average at the January 1st, 2025, renewals, despite the elevated level of catastrophe activity in the third quarter. Speaking after the release of the ... Read the full article
Frequency & severity losses will not be solved by reinsurers in 2025: AIG CEO
5th November 2024
This year, insured catastrophe losses have already exceeded $100 billion and are expected to easily breach the $120 billion mark, but with reinsurers poised to generate underwriting profits on their global catastrophe portfolios in 2024 after the significant market reset last year, industry losses will continue to be realised by ... Read the full article
Everest CEO hails ‘excellent’ mid-year renewal outcome as T&Cs and attachment points hold
1st August 2024
Bermuda domiciled Everest Group's reinsurance business delivered a strong underwriting result in the second quarter of 2024, and amid still favourable property market conditions, characterised by persistently attractive rates and unwavering terms and conditions (T&Cs) and attachment points, the firm had an excellent outcome at the mid-year renewals. This is according ... Read the full article
Arch opted against property cat growth at mid-year renewal amid heightened storm risk: CEO Grandisson
1st August 2024
Bermuda-based insurer and reinsurer Arch Capital Group decided against further growing its property catastrophe book at the mid-year renewal given the heightened storm risk, as the firm looks for the right balance across its portfolio, according to Chief Executive Officer (CEO), Marc Grandisson. This week, Arch Capital reported a 26% ... Read the full article
Up to $40bn of additional property cat reinsurance purchased in H1: Guy Carpenter
30th July 2024
Reviewing buying activity from January through July 2024, Guy Carpenter has estimated that approximately $35 billion - $40 billion of additional property catastrophe limit has been purchased worldwide, driven by favourable conditions. According to a recent report from the firm, this increase generally represents 5% to 10% of catastrophe capacity purchased. "By the ... Read the full article
It’s an exciting time to be a reinsurer, says RenRe CEO O’Donnell
25th July 2024
Bermuda-based reinsurer RenaissanceRe (RenRe) is "delighted" with the state of the market, and with demand for coverage on the rise in an increasingly stable market, it's a good time to be a reinsurance company, according to the firm's Chief Executive Officer (CEO), Kevin O'Donnell. As we covered this morning, RenRe ... Read the full article
Increased demand & appetite, but there’s caution in the property reinsurance market: Klisura, GC
18th July 2024
The property catastrophe reinsurance market is much more predictable and smooth than it was a year ago, and while there's been a notable increase in demand for protection from clients, the potential for another year of $100 billion+ in insured natural catastrophe losses means there's caution in the marketplace, according ... Read the full article
Reinsurers’ ‘risk on’ approach benefits property cat buyers in 2024: Gallagher Re
1st July 2024
As per a new report from Gallagher Re, buyers of property catastrophe reinsurance have been able to negotiate better terms and conditions on their contracts in 2024 due to the "risk on" approach taken by reinsurers. The reinsurance broker explained that this has resulted in improved pricing, with risk-adjusted catastrophe placements ... Read the full article
Risk-adjusted property-cat ROL 5% lower on average, indicating shifting market dynamics: Howden Re
30th May 2024
Moderated risk-adjusted property-catastrophe reinsurance pricing reflects shifting market dynamics at the June 1st reinsurance renewals, broker Howden Re has stated. According to Howden Re, risk-adjusted property-catastrophe reinsurance rates-on-line (ROL) were on average 5% lower at the June 1 2024 renewals, within a typical range of -7.5% to -2.5%. According to analysts, the ... Read the full article
Japan property cat demand marginally down at April 1 reinsurance renewals: Gallagher Re
5th April 2024
Japan property catastrophe demand was marginally down year-on-year at the April 1st, 2024, reinsurance renewals, while some increases in retentions were offset by a small amount of additional capacity purchased, reports Gallagher Re. In the reinsurance broker's 1st View Report, the firm highlights how there was a "significant uptick in ... Read the full article
Arch predicts growth opportunities in property cat amid favourable reinsurance market
21st February 2024
As reinsurance market conditions remain favourable after the 1.1 2024 renewals, Bermuda-based re/insurer Arch Capital is predicting further improvement in its loss ratio as well as growth opportunities in the property catastrophe reinsurance market. Having reported “excellent” financial results in its fourth quarter of 2023, Arch saw an underlying loss ... Read the full article
Global property cat reinsurance RoL index up 5.4% at 1.1 2024: Guy Carpenter
9th January 2024
Reinsurance broker Guy Carpenter has reported that at the January 1st, 2024, reinsurance renewal, its Global Property Catastrophe Rate on Line Index (ROL) increased by 5.4% when compared with the prior year. Although this 5.4% increase is a steep decline from the 27.2% rise seen at the Jan 1st, 2023 renewals ... Read the full article
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