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.
Hard market to increase volatility for primary insurers: Goldman Sachs
13th February 2023
Analysts at Goldman Sachs have warned that hardening reinsurance market conditions are causing more volatility in the primary market, as carriers are forced to retain more risk on their balance sheets. At the same time, however, analysts observed that reinsurance pricing increases are not yet translating to revenue and top line ... Read the full article
Ivans Index shows strong start to year for renewal rates
10th February 2023
Data from the latest edition of the IVANS Index shows that average premium renewal rates were up across all lines of business over the month of January, with the exception of Workers’ Compensation. Increases were led by Business Owners Policy (BOP) and Commercial Property lines, which remain the highest premium renewal ... Read the full article
COVID losses in APAC could strain A&H reinsurers: Gallagher Re
9th February 2023
Analysts at Gallagher Re have warned that new COVID-19-related losses emanating from the Asia-Pacific region may put a strain on first-tier accident and health (A&H) reinsurers through 2023. The broker expects that the majority of these losses will be contained locally, but it does believe that the Lloyd’s market is likely ... Read the full article
Global commercial insurance rates continue to moderate in Q4: Marsh
3rd February 2023
Global commercial insurance prices increased 4% in Q4 of 2022, down from a 6% increase in Q3 and a 9% increase in Q2, according to Marsh's Global Insurance Market Index. Marsh's Index explains that this continues a trend of moderating increases that first began in Q1 of 2021. It adds that while ... Read the full article
US property cat reinsurance rates-on-line up 30.1% at January renewals: Guy Carpenter
2nd February 2023
The Guy Carpenter U.S. Property Catastrophe Rate on Line Index increased by a significant 30.1% at the January 2023 reinsurance renewals, taking rates to an all-time high, according to the latest data from the global reinsurance broker. Guy Carpenter, which is Marsh McLennan's reinsurance broking arm, has been ... Read the full article
Alternative capital shortage has rippled through property markets: RBC
26th January 2023
Analysts at RBC Capital Markets have suggested that a retrenchment in the alternative capital space has led to a further tightening of the retro market from 2022, causing a “ripple effect” on the available of capacity in the reinsurance property markets. Commenting on the current hard market environment and on specialty ... Read the full article
Underwriters to retain more risk amid hardening market: Goldman Sachs
25th January 2023
Analysts at Goldman Sachs expect underwriters to hold more risk on their own balance sheets going forward, rather than assuming the large increases to reinsurance and retrocession coverage that materialised at the recent January renewals. Reflecting on trends coming out of 1/1, Goldman Sachs believes that reinsurance is entering a truly ... Read the full article
US commercial and personal lines both see rates up 5% in Q4: MarketScout
9th January 2023
New data from MarketScout, a managing general agent, Lloyd's coverholder and wholesale broker, shows that composite rate increases for both US commercial and personal lines insurance were up by more than 5% through the fourth quarter of the year. The composite rate for US commercial insurance rates was up 5.1% in ... Read the full article
Property lines with poor loss history to see rate rises up to 150%: USI
5th January 2023
Broker and consulting firm USI Insurance Services has forecast that cat or non-cat property with poor loss history or poor risk quality may see rate increases of up to 150% in the first half of 2023. Following three years of a firming market with increased deductibles, valuation adjustments, and reductions in ... Read the full article
WTW report finds US commercial insurance prices up YOY
23rd December 2022
A new survey from WTW has found that prices for US commercial insurance increased again during the third quarter of the year. A statement from the firm said that it had compared prices charged on policies underwritten during Q3 2022 to those charged for the same coverage during Q3 2021. The aggregated ... Read the full article
Property cat rates need to increase 50% to offset rising claims costs: EY
22nd December 2022
Next year will be a challenging time for home and motor insurers. At the same time, consultancy EY has suggested that property catastrophe reinsurance rates need to increase by 50% in 2023 to help combat climate change impact and restore profitability. Ben Reid, UK Head of Specialty Insurance at EY, commented: ... Read the full article
Commercial rates show variability month to month: IVANS
21st December 2022
Data from the latest edition of the IVANS Index shows that average premium renewal rates for nearly all major commercial lines of business remain up year over year while month-over-month rates experience continued variability. The November 2022 results of the premium renewal rate index show that, year over year, all lines ... Read the full article
Reinsurance capacity strained with rates to increase 50% for US cat: Goldman Sachs
19th December 2022
A new note from Goldman Sachs around P&C insurance reports that reinsurance capacity is strained with rates potentially up by over 50% for US cat. The note arises from conversations the financial giant had with property and casualty insurers, that the firm said were ‘most optimistic’ with the current environment favourable ... Read the full article
US commercial P&C rates decelerate to 5%: MarketScout
14th December 2022
The latest Insurance Market Barometer from MarketScout and accompanying commentary from analysts at Keefe, Bruyette & Woods reveals that U.S. commercial property and casualty insurance (P&C) rates rose by 5% y/y, below October's +5.9%, which probably reflects both deceleration and monthly volatility. Although rate increases appear to have peaked in December ... Read the full article
Cyber competition slowing rate increases for firms with good security: WTW
13th December 2022
A new note from WTW says that increased competition from cyber underwriters has led to more nominal rate increases when organisations can demonstrate good cyber security controls year over year. The firm said in its note that these cyber underwriters were eager to write new business following the recalibration of cyber ... Read the full article
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