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.
Validus Re premiums up 40%. Significant rate increases expected in June: AIG CEO Zaffino
5th May 2023
Validus Re, the Bermuda headquartered global reinsurance arm of American International Group (AIG), grew its gross premiums written by an impressive 40% in the first-quarter of 2023, CEO Peter Zaffino explained today. Speaking during the AIG earnings call today, AIG CEO Zaffino explained that the reinsurance business has been growing strongly, ... Read the full article
US premium growth in DUAE market continues: AM Best
28th April 2023
Direct premium flowing through the Delegated Underwriting Authority Enterprises (DUAE) market in the United States continued its significant growth rate in 2022, increasing by 13.8% to $67.6 billion, according to a new report from AM Best. However, data from the rating agency shows these premium sources varying significantly by insurer. Some are ... Read the full article
Global commercial insurance pricing rose 4% in Q1 2023: Marsh
28th April 2023
According to the latest Global Insurance Market Index from Marsh, global commercial insurance pricing rose 4% in the first quarter of 2023, the same as in the prior quarter. This will be the twenty-second consecutive quarter in which composite pricing rose, which continues the longest run of increases since the inception ... Read the full article
P&C rates to increase in 2023, insurers to reduce reinsurance use: S&P
27th April 2023
Underwriting profitability is expected for North American P&C insurers this year according to S&P analysts, who have also forecasted rate increases for homeowner insurance, auto and property, among others. Additionally, according to their recent report, they believe that P/C insurers in the region will reduce their use of reinsurance mainly due ... Read the full article
Reinsurance trickle-down to re-accelerate property rates: JMP
24th April 2023
Analysts at JMP Securities report that property-exposed primary insurance lines are likely to see rates re-accelerate over the coming months as the impact of higher reinsurance pricing trickles down. Reflecting on the first quarter of 2023, JMP noted that industry results will likely present a “complex picture”as mark-to-market investment gains will ... Read the full article
Commercial rates slow across Canada in Q4: Applied Systems
17th April 2023
New data from Applied Systems shows that the overall magnitude of commercial lines premium rate movements slowed in Canada during the fourth quarter of last year. Analysts report that rate increases decelerated across all lines relative to average premium renewals in the same quarter in the previous year, at 8.58% in ... Read the full article
Personal lines rates moderate through Q1: MarketScout
14th April 2023
Data from MarketScout shows that personal lines rates decreased slightly through the first quarter of 2023, with the US composite rate recorded at plus 5%. Homeowners and personal articles insurance on a composite basis were both down slightly in the Q1, analysts reported. But automobile insurance rates are increasing at plus 6.3% ... Read the full article
Berenberg analysts expect higher reinsurance prices in Europe
30th March 2023
Berenberg analysts in their recent "2023: the dawn of a new reinsurance cycle" report have predicted that rates for European reinsurance will be higher during the upcoming renewal seasons. Climate change dilutes geographical diversification which in the analyst’s view could be a key driver of the need for more rate. According to ... Read the full article
Berenberg foresees higher profitability for reinsurers
28th March 2023
Analysts at Berenberg expect to see higher future profitability for the reinsurance sector as the hard pricing environment looks to set persist and deliver higher returns on capital for reinsurers. The investment bank said that its broader view on reinsurance remains positive as the repricing of property catastrophe reinsurance has led ... Read the full article
German public-sector insurer profits hit by reinsurance prices, claims inflation: Fitch
17th March 2023
According to analysts at Fitch Ratings, German public-sector insurers’ non-life underwriting profitability is likely to weaken in 2023, which will be driven by higher reinsurance prices and claims inflation. Fitch noted that it forecasts a net combined ratio of 98% for 2022 and 99% for 2023, compared with a five-year average ... Read the full article
US commercial prices up 4.8% through Q4: WTW
13th March 2023
US commercial insurance prices rose again in the fourth quarter of 2022, according to WTW’s Commercial Lines Insurance Pricing Survey (CLIPS), with the aggregate commercial price change measured at 4.8%. The survey compared prices charged on policies underwritten during the fourth quarter of 2022 with those charged for the same coverage ... Read the full article
Cat-exposed property lines rate increases to re-accelerate in 2023: KBW
10th March 2023
Despite anticipating slowly decelerating rate increases throughout 2023, analysts at KBW expect catastrophe-exposed property lines' rate increases to re-accelerate in response to elevated claim cost inflation and rising property reinsurance costs. KBW's MarketScout February commercial insurance rate barometer rose by 5.0% y/y, accelerating from January's 4.4%. The analysts note that despite rate ... Read the full article
Reinsurers to benefit from improved underwriting and investments in 2023, says Moody’s
28th February 2023
Analysts at Moody's expect the supply and demand imbalance in the global reinsurance market to persist amid a continuation of strong pricing, while credit conditions will also be supported by improved investment income on the back of rising interest rates. Moody's maintains its stable outlook for the global reinsurance sector in ... Read the full article
January reinsurance conditions “here to stay”: JP Morgan
27th February 2023
Analysts at JP Morgan have reported that the “resounding view” from reinsurers is that the hard market conditions experienced at the January 2023 renewals are “here to stay” for at least the remainder of the year. Looking ahead to the coming renewals in April and at mid-year, JP Morgan believes that ... Read the full article
AIG’s reinsurance spend up by less than 10% at “successful” renewal: CEO Zaffino
16th February 2023
AIG Chairman and Chief Executive Officer (CEO) Peter Zaffino has disclosed details of his company’s experience at the recent January reinsurance renewal period, which he says proved “exceptionally successful” given challenging market conditions. Specifically, he says AIG increased its overall spend by “less than 10%” on an absolute and risk adjusted ... Read the full article
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