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.
More rate needed, but cat is clearly a profitable line: Munich Re CFO
10th November 2021
While many of the catastrophe prone markets have already experienced hardening over the past few years, higher prices are still required for some of the less impacted geographies and perils, but overall, Munich Re is pleased with the profitability of its catastrophe book, according to its Chief Financial Officer (CFO), ... Read the full article
Greenlight Re ‘middle-of-the-road’ on cat risk, ‘sceptical’ ahead of 1/1: CEO Burton
8th November 2021
After disappointing property catastrophe rate increases at the January 1st, 2021 reinsurance renewals, Simon Burton, Chief Executive Officer (CEO) of Greenlight Re, is sceptical ahead of year-end, but feels comfortable with the firm's current catastrophe exposure. Catastrophe losses of almost $26 million contributed 19.1 points to Greenlight Re's 109.3% combined ratio ... Read the full article
Illogical to decline potential cat opportunity: Lancashire CEO Maloney
5th November 2021
Alex Maloney, Chief Executive Officer (CEO) of Lancashire Holdings, confirmed yesterday that the specialty re/insurer intends to maintain its catastrophe footprint for 2022, stating that it would be "counter to our DNA" to retreat from an improved underwriting opportunity. In announcing its results for the first nine months of the ... Read the full article
Swiss Re CFO cautiously optimistic on 2022 rate improvements
29th October 2021
Swiss Re CFO John Dacey, speaking during a media call this morning, highlighted the reinsurer’s move away from certain lower-layers of risk to help protect earnings while expressing cautious optimism for industry-wide positive rate improvements in the run up to 1/1. Dacey noted how an increased frequency and severity of weather ... Read the full article
Insurance pricing up 15% in Q3, led by cyber: Marsh
26th October 2021
Global commercial insurance prices increased by 15% in the third quarter of 2021, according to the latest Global Insurance Market Index released by re/insurance broker Marsh. It marks the 16th consecutive quarter of increases, but rates have continued to moderate in many lines of business and most geographies, suggesting that pricing ... Read the full article
Cyber is the one truly hard element of the market: GC’s Peter Hearn
22nd October 2021
Peter Hearn, Chief Executive Officer (CEO) of reinsurance broker Guy Carpenter, has asserted that the “one hard element” of the reinsurance market right now is cyber. Hearn was joined by executives from parent company Marsh McLennan (MMC) earlier this week during a call to discuss the company’s Q3 results. Guy Carpenter reported ... Read the full article
Commercial rates show hard market conditions persisting: IVANS
22nd October 2021
IVANS, a division of Applied Systems, has released the Q3 results of its insurance premium renewal rate index, which show that nearly all major commercial lines of business experienced quarterly increases in average premium renewal rate. This quarter’s results showed premium renewal rate change for all major commercial lines of business ... Read the full article
Munich Re expects to see considerably higher reinsurance rates in Europe
18th October 2021
Global reinsurer Munich Re is anticipating continued reinsurance market hardening in Europe at the January 1st, 2022 renewals, while major losses and inflation trends suggest more pricing discipline. "Rising prices for various assets and the latest major losses make considerably higher reinsurance rates in Europe likely," said Doris Höpke, Member of ... Read the full article
Hannover Re’s E+S Rück expects rising reinsurance prices in Germany
18th October 2021
E+S Rückversicherung AG, the Hannover Re subsidiary responsible for the Group's German business, is anticipating appreciable adjustments to reinsurance prices and conditions in the property market in Germany following catastrophic weather events in the country. In Germany alone, low pressure system 'Bernd' is expected to drive insurance industry losses of more ... Read the full article
Aviation rates moderating to stable levels: Gallagher
11th October 2021
Analysts at global re/insurance broker Gallagher have reporteded continued moderation of insurance rates in the aviation space, with the average level of increases down notably on prior quarters. In the Q3 edition of its Plane Talking publication, Gallagher noted that this moderation follows three years of consecutive rate increases and reflects ... Read the full article
Not a true hard market, but there’s more to come: Aspen’s Christian Dunleavy
8th October 2021
Despite improvements, it’s still not a true hard market and the reinsurance arena is likely lagging the primary space and needs to push for more rate adequacy, according to Christian Dunleavy of Aspen Insurance Holdings Limited. Dunleavy, who serves as Chief Underwriting Officer (CUO) of Aspen Re, and Chief Executive Officer ... Read the full article
US commercial rates up 6.8% in Q3, says MarketSout
8th October 2021
According to MarketScout data the composite rate for commercial insurance pricing in the third quarter of 2021 was up 6.8%, compared to the 5.9% in the second quarter of 2021. Richard Kerr, CEO of MarketScout noted how Umbrella and D&O coverages continue to lead the price increases at 11.7% and 11.3%. By ... Read the full article
Rate growth less abrupt but longer-lasting than past hard markets: KBW
17th September 2021
Analysts at Keefe, Bruyette & Woods (KBW) have suggested that rate growth in the current hardening market should continue for longer than in typical ‘three-year’ cycles seen in the past, despite the fact that increases have generally been less abrupt this time around. The firm believes that rate increases will be ... Read the full article
Everything points in the same direction – further hardening: MAPFRE RE CUO San Basilio
16th September 2021
While rate momentum has slowed somewhat throughout 2021, the current favourable reinsurance market environment is expected to persist into 2022 amid ongoing pressures from the pandemic, natural catastrophes and social inflation, according to Javier San Basilio, Chief Underwriting Officer (CUO) for MAPFRE RE. In a recent interview with Reinsurance News, San ... Read the full article
Further reinsurance rate increases needed through 2022: Berenberg
16th September 2021
Analysts at Berenberg believe that hardening market conditions will continue through into 2022, as reinsurers seek to earn returns above their cost of capital in the face of ultra-low interest rates, social and cost inflation as well as a prolonged period of above-average natural catastrophe losses. Berenberg’s key takeaway from its ... Read the full article
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