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Reinsurance renewals

Irma and Harvey will drive uncertainty at renewals: Munich Re’s Jeworrek

11th September 2017

In the middle of the 2017 hurricane season weather conditions are causing high intensity storms and hurricanes to form in the Atlantic basin, and with the industry still waiting for the tally from Harvey and now Irma, reinsurers will have to go into renewals under a cloud of "uncertainty." Speaking at ... Read the full article

Swiss Re expects price stabilisation after recent loss events

11th September 2017

Reinsurance giant Swiss Re said this morning that it expects the impacts of recent catastrophe losses will be sufficient to stabilise reinsurance industry pricing. The company said that it intends to maintain its underwriting discipline, in the face of continuing pressures from low interest rates and excess capital in the sector. The ... Read the full article

P&C price reductions of up to 5% expected at Jan 18 renewals: Moody’s

6th September 2017

Persistent headwinds in the global reinsurance sector are expected to continue throughout 2017 and into next year, with Moody's suggesting that the January 2018 property and casualty (P&C) reinsurance renewals will see further softening across most business lines. Price declines in the reinsurance sector have slowed in more recent times, a ... Read the full article

Reinsurance pricing to deteriorate throughout 2018, warns Fitch

6th September 2017

Pricing in the global reinsurance sector will continue declining throughout 2018 as competition from alternative sources of reinsurance capacity intensifies and margins across the sector deteriorate further, according to analysis by Fitch Ratings. The current low-interest rate environment is expected to remain, dampening returns on the investment side of the balance ... Read the full article

Reinsurers’ evolution must continue as challenges & uncertainty persists: A.M. Best

5th September 2017

The global reinsurance sector remains extremely challenging with limited opportunity for organic growth and declining profitability on both sides of the balance sheet, which, suggests reinsurers will need to continue adapting and evolving to the changing landscape, according to A.M. Best. Despite the widespread impact of hurricane Harvey, which is yet ... Read the full article

U.S. reinsurers’ combined ratio edges closer to 100% in H1 2017, loss ratio rises

24th August 2017

Analysis on the performance of 18 reinsurance companies during the first-half of 2017, by the Reinsurance Association of America (RAA), highlights further deterioration of combined ratios and rising loss ratios. The group of 18 U.S.-based property/casualty reinsurers recorded a combined ratio of 97.1% in the first-half of 2017, compared with 94.8% ... Read the full article

Fitch maintains negative reinsurance outlook, warns of further price deterioration

22nd August 2017

Fitch Ratings has maintained its negative outlook for the reinsurance sector as mid-year 2017 results show continued pressure on pricing and earnings. Ample capacity and intense competition remains an issue for the global reinsurance sector, and Fitch expects pricing to weaken further in the months ahead. Despite the abundance of capacity and ... Read the full article

Continued softening & expansion of terms in energy re/insurance

3rd August 2017

The energy insurance and reinsurance sector has witnessed continued softening of prices and expansion of terms and conditions at recent renewals, helping protection buyers to more positive dealings with risk transfer partners, according to JLT Group’s Lloyd & Partners unit. The offshore and onshore energy insurance market has softened rapidly, nearing ... Read the full article

Demand for casualty reinsurance increases at mid-year renewals: Willis Re

20th July 2017

Commenting on trends in the casualty market after the 2017 mid-year renewals, Willis Re said demand for reinsurance is increasing as the cyber market expands and global demand is stimulated by pending regulation in the European Union (EU) and Australia. As underlying cyber coverage expands with first party exposures, reinsurers appear ... Read the full article

Persistent reinsurance market headwinds impacting all territories

18th July 2017

Global property reinsurance rates continued to decline throughout most territories at the mid-year renewals season, driven by a lack of catastrophe losses, excess capacity and ongoing market pressures, according to reinsurance broker Willis Re. In the UK and the U.S. excess capacity, from both traditional and alternative sources, continues to combine with ... Read the full article

Florida market pressured at mid-year as players push for 2017 targets: Willis Re

17th July 2017

The mid-year renewals season saw continued softening of pricing in Florida with stable market demand, but pressure on traditional players is growing as they make a final push for 2017 premium targets, but are squeezed into a tighter space by greater alternative capital influx. John Cavanagh, Global Chief Executive Officer (CEO) of Willis ... Read the full article

Kingstone Companies completes reinsurance treaties under improved terms

12th July 2017

Property and casualty insurance holding company, Kingstone Companies, Inc., has announced that its subsidiary, Kingstone Insurance Company (KICO), has completed various reinsurance agreements for the treaty year commencing July 1st, 2017. According to a statement released by the company it secured increased reinsurance protection under improved terms, and also managed to further ... Read the full article

Reinsurers’ betting on benign loss year, market bottom elusive: Peel Hunt

10th July 2017

Further, and steeper-than-expected rate declines across the U.S. property catastrophe space at the mid-year renewals suggests the reinsurance market is struggling to find a bottom, as players bank on yet another benign underwriting year, according to analysts at Peel Hunt. Citing reinsurance broker Willis Re's recent analysis, Peel Hunt, in a ... Read the full article

Reinsurance softening persists at mid-year renewals: Willis Re

3rd July 2017

Despite reinsurers' results continuing to deteriorate in the first-quarter of 2017, mid-year reinsurance industry renewals saw a continuation of the downward trend seen at January 1st and April 1st, according to Willis Re's latest 1st view report. The softening reinsurance market landscape persisted at the mid-year renewals, with buyers ... Read the full article

Florida insurers propped up by reinsurance capacity at all-time high: KBRA

20th June 2017

Abundant reinsurance capacity at ever-decreasing pricing has been a lifeboat for Florida insurers at the 2017 second quarter renewals, after their profitability has been shaken by rising water-loss and fraudulent AOB claims, the Kroll Bond Rating Agency (KBRA) highlighted in its Floridian market report. Floridian primary insurers were given a much-needed boost by ... Read the full article

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