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.
Reinsurers likely to review rates amid US / Iran fallout: S&P
7th January 2020
Analysts at ratings agency S&P Global Ratings have said that reinsurance firms are likely to review rates for war coverage in the Gulf following the U.S. killing of Iran's top military commander, General Qassim Soleimani. Advisory warnings of the possibility of Iranian attacks on US ships and infrastructure have been observed ... Read the full article
Property cat rates stable amid varied 1/1 renewal: Hyperion X
2nd January 2020
Pricing for property-catastrophe reinsurance remained fairly stable at the January 2020 renewals, with rates-on-line rising 0.8% on average, according to Hyperion X, the data and technology focused unit of the global Hyperion Insurance Group. The firm noted that property-catastrophe pricing was stable despite more varied results in other lines, including significant ... Read the full article
AIG’s Peter Zaffino sees a more disciplined P&C market in 2020
11th December 2019
Peter Zaffino, the Global Chief Operating Officer (COO) and Chief Executive Officer (CEO) of General Insurance at AIG, expects property and casualty (P&C) market dynamics to drive heightened discipline across the space in 2020. Zaffino, alongside AIG President and CEO Brian Duperreault and Mark Lyons, Chief Financial Officer (CFO), recently discussed ... Read the full article
A “truly unconventional hard market” says the CIAB
26th November 2019
The majority of respondents to a recent market survey agreed that market conditions continued to harden in the third-quarter of 2019, reports The Council of Insurance Agents & Brokers (CIAB). The CIAB's Q3 Commercial Property/Casualty Market Survey reveals that industry participants feel that during Q3, the market was transitioning from firm ... Read the full article
The question is whether changes are cyclical or structural: Roundtable
22nd November 2019
With re/insurance a completely different market now than the one 18 months ago, key industry executives speaking at the 2019 Reinsurance News Monte Carlo Rendezvous Roundtable reflected on whether the longer-term decline in rates is cyclical or structural. If it has been cyclical and the factors driving this new ... Read the full article
Property market still hardening, set to persist through 2020: WTW
18th November 2019
Pricing conditions in the property re/insurance market have continued to harden over and above baseline predictions, with rate increases set to persist through 2020, according to broker Willis Towers Watson (WTW). The current “micro-hard market” has produced pricing increases of between 50% and 100%, according to WTW’s numbers, with some challenged ... Read the full article
P&C pricing momentum unlikely to result in hard market, says Fitch
14th November 2019
While favourable pricing trends in the US property and casualty (P&C) market have been gaining some momentum this year, analysts at Fitch Ratings do not believe these increases are likely to cause a return to hard market conditions. Competitive forces and less favourable claims trends in some key segments make it ... Read the full article
Willis Towers Watson sees “biggest upward price shift in years”
13th November 2019
Global insurance and reinsurance brokerage, Willis Towers Watson (WTW) expects 19 lines of business to see price increases in 2020 in what the firm describes as the "biggest upward price shift in years." The broker has released its 2020 Insurance Marketplace Realities report, which concludes that North American commercial insurance buyers ... Read the full article
Reinsurance industry CEOs frustrated at pricing environment
11th November 2019
Insurance and reinsurance industry Chief Executive Officers (CEOs) have expressed frustration at the reinsurance pricing environment and have highlighted a reliance on primary rate increases. This is according to CEOs who spoke at the 2019 Bermuda Reinsurance Conference hosted by S&P Global Ratings last week. The event took place over November ... Read the full article
Opportunity at Jan renewals better than a year ago, says Lancashire CEO
8th November 2019
As positive rate momentum continues across virtually all lines of business, the Group Chief Executive Officer (CEO) of Lancashire Holdings Limited, Alex Maloney, is confident that the opportunity at the upcoming January renewals is better than what it was a year ago. The underwriting environment is "transitioning to the harder stage ... Read the full article
Everest increasingly optimistic as market dislocation creates opportunity
6th November 2019
The global re/insurance industry would have hoped for a chance to regroup in 2019 following the volume of losses over the previous two years, but instead, further losses have driven additional market dislocation, which in turn creates opportunity, according to John Doucette, EVP, President and Chief Executive Officer (CEO) of ... Read the full article
More rate improvements ahead after market pain in 2019: AXIS CEO Benchimol
1st November 2019
AXIS Capital is anticipating ongoing insurance and reinsurance pricing increases into the 2019 renewals and beyond, according to its Chief Executive Officer (CEO), Albert Benchimol. Speaking during the firm’s third quarter earnings call, Benchimol explained that rates remain inadequate in many lines, and should be spurred on by the further “pain” ... Read the full article
P&C market favourable for smaller, niche players: JP Morgan
25th October 2019
Smaller, niche carriers are particularly well positioned to take advantage of favourable conditions in the property and casualty (P&C) re/insurance market, according to analysts at JP Morgan. In a new report, the firm said it expects smaller players to accelerate their market share gains as larger market leaders retrench in an ... Read the full article
Improved reinsurance market conditions may fade, warns Fitch
25th October 2019
Analysts at Fitch Ratings have warned Bermudian reinsurers that improved reinsurance market conditions and the subsequent positive influence on underwriting results may not last. After a more meaningful shift in pricing at the latest renewals season following disappointing rate movements through 2018 and into early 2019, on the back of consecutive ... Read the full article
2019 cats to dent reinsurers’ earnings, accelerate rates: A.M. Best
22nd October 2019
Global financial services ratings agency, A.M. Best, expects an acceleration in rate increases for the key January 1st and April 1st, 2020 reinsurance renewals, but warns of another lacklustre performance for the reinsurance sector in 2019 after a series of major catastrophe events. After consecutive heavy loss years, insurers, reinsurers and ... Read the full article
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