Reinsurance News
Reinsurance rates news
News on rates and pricing across global insurance and reinsurance markets, with a particular focus on renewal rates on line in reinsurance and commercial insurance pricing trends.
Gallagher Re finds pricing in Australia market up by 25% in spots
4th July 2022
According to Gallagher Re’s latest mid-year renewals report, property reinsurance rates in some cases in Australia has increased by up to 25%. In their 1st View Report, the broker stated that it was a much later and tougher renewal than normal, with reinsurers seeking additional information on the impact of flood ... 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
Florida rates expected to increase 20-30% at least: Berenberg
31st May 2022
Following meetings with the management teams of major insurers and reinsurers, analysts at Berenberg say rates are expected to increase by at least 20-30% at the upcoming June renewals. According to Berenberg, renewals look to be disorderly and seem to be reaching an inflection point as June 1 approaches, with a ... Read the full article
Reinsurance premium growth at 11%, but clouds on horizon: Gallagher Re
31st May 2022
Gallagher Re is reporting that premium growth among the reinsurers it tracks remained strong in Q1 2022, reaching 11%. The firm said that this result had been achieved partly through continued favourable pricing for commercial lines and reinsurance business. Strongest premium growth, the company said, came from the global reinsurers, along ... Read the full article
Premiums up twofold for Ukraine-exposed specialty business: reports
31st May 2022
Insurance premiums are being hiked to double or more than their pre-conflict levels for some aviation and marine businesses with exposure to the war in Ukraine, industry sources have reported. Reports from the Financial Express of India suggest that aviation war cover premiums have doubled globally, despite coverage already having been ... Read the full article
Canadian personal auto & property rates up through Q1
24th May 2022
The results of the latest Applied Rating Index by Applied Systems show that average premiums for both Personal Auto lines and Personal Property lines increased in Canada year over year in the first quarter of 2022. Quarter over quarter, premium renewal rate change decreased for Personal Auto and increased for Personal ... Read the full article
“Absolutely crucial” to sustain pricing discipline: AXIS CEO Benchimol
10th May 2022
Albert Benchimol, President and CEO of AXIS Capital Holdings, has asserted that it is “absolutely crucial” that insurers continue to sustain pricing discipline in order to deliver an adequate return on capital and fulfil its role as “a safety net for the free markets.” Speaking during a Q1 earnings call, Benchimol ... Read the full article
Nearly all commercial rates up over Q1: IVANS
4th May 2022
Premium renewal rates increased for all major commercial lines of business year-over-year, with the exception of Workers' Compensation, according to the first quarter results of the insurance premium renewal index by IVANS, a division of Applied Systems. The data shows that Q1 also experienced an increase in average premium renewal rate ... Read the full article
Re/insurance markets challenging for buyers despite moderation: MMC
29th April 2022
John Doyle, Group President and Chief Operating Officer at broking firm Marsh McLennan (MMC), has said that the insurance and reinsurance markets remain broadly “challenging” for its clients despite some recent deceleration in pricing. Speaking during an MMC Q1 earnings call, Doyle said that, while rate increases had moderated recently, buyers ... Read the full article
Capital build-up could undermine pricing discipline: BofA
21st April 2022
Analysts at Bank of America (BofA) have warned that a build-up of capital in the reinsurance industry could begin to undermine pricing discipline over time. BofA noted that capital is building in both the traditional and insurance-linked securities (ILS) sections of the reinsurance industry, and expressed concern over a possible knock-on ... Read the full article
Nowhere near a soft market, but commercial rate increases are slowing: WTW
8th April 2022
Despite rate increases in the commercial insurance market beginning to decelerate, business leaders at insurance and reinsurance broker WTW feel "we are nowhere near a soft market." WTW's latest Marketplace Realities Report shows that leaders in 79% of the broker's commercial business lines forecast continued rate increases, although these are slowing ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
