Advertise with Reinsurance News

Menu

Reinsurance News

Reinsurance renewals news

Reinsurance renewals are the key points in the year when the majority of reinsurance contract renewal negotiations occur and are completed.

The reinsurance renewal seasons provide insight into reinsurance pricing, contract terms, reinsurance market positioning and the direction of future trends in the market.

AXA looks to address AXA XL volatility with additional reinsurance

20th February 2020

In an effort to minimise earnings volatility within its commercial insurance and reinsurance arm, AXA XL, French insurer AXA has purchased some additional reinsurance covers. The global insurer and reinsurer today announced its results for 2019, reporting a higher net income and elevated total revenues within AXA XL. However, while AXA ... Read the full article

TWIA raises 2020 reinsurance target to $2.1 billion

19th February 2020

The Texas Windstorm Insurance Association (TWIA) has increased its target amount of reinsurance protection for the 2020 catastrophe year to $2.1 billion, with the Board directing TWIA staff to place a mix of traditional reinsurance and catastrophe bond protection. In December of last year, TWIA said that it expects to ... Read the full article

Consensus around “significant” price movement at Japan renewals: JMP

19th February 2020

Following meetings with insurers, reinsurers and brokers JMP Securities analysts are anticipating significant positive pricing change in Japan’s upcoming April 1 renewals, roughly twice the magnitude seen in 2019. JMP notes that, while pricing changes will vary substantially by both layer of a program and by individual cedant, a surprising amount ... Read the full article

AIG continued to refine & enhance reinsurance use at 1/1

14th February 2020

Global insurer and reinsurer AIG continued to refine and enhance its reinsurance buying strategy at the recent Jan 1st, 2020 renewals, securing an improved catastrophe reinsurance program at a lower cost when compared with the previous year. In recent times, AIG has made some significant changes to its use of ... Read the full article

Everest Re is optimistic but mindful of “choppy waters”, says John Doucette

13th February 2020

John Doucette, EVP, President and Chief Executive Officer (CEO) of Reinsurance at Bermuda-based Everest Re, has said that despite improving reinsurance market conditions, the company remains realistic that there are "choppy waters to navigate". Global reinsurer Everest Re announced recently improved year-on-year net income of $217.6 million for the fourth-quarter ... Read the full article

Analysts lower Munich Re’s FY19E net income by 8%

12th February 2020

Analysts at J.P. Morgan expect reinsurance giant Munich Re's property and casualty (P&C) segment to fall to an underwriting loss in the fourth-quarter of 2019, while the firm's Life reinsurance division is expected to produce a below run-rate quarter. Overall, analysts expect that Munich Re will report a combined ratio of ... Read the full article

B3i’s blockchain platform places 30 reinsurance contracts at 1/1

12th February 2020

The Blockchain Insurance Industry Initiative (B3i) has announced that 30 reinsurance contracts have now been concluded on its platform, with participants including Allianz Re and Generali. A total of 9 insurers, 4 major brokerage firms, and 8 reinsurers participated in the placements, which were conducted as a parallel run with the ... Read the full article

Late reinsurance renewals signal supply-demand imbalance: KBW

7th February 2020

Analysts at KBW have observed a supply-demand imbalance at the January 1 reinsurance renewals, which they believe will persist throughout 2020, especially for loss-impacted property catastrophe accounts. The firm noted that reinsurance renewals were later than normal this year, including some placements that were not completed by year-end. Pricing trends are considered ... Read the full article

ARPC extends top layer of retro reinsurance program for 2020

7th February 2020

The Australian Reinsurance Pool Corporation (ARPC), the Australian government's terrorism reinsurance agency, has announced that it has secured a larger retrocession reinsurance program for the 2020 calendar year. The ARPC has secured AUD 3.45 billion (USD 2.33 billion) of retrocession reinsurance protection at a reduced rate for 2020, up on ... Read the full article

RenRe could pull back in Florida if rates stay low, says CEO

7th February 2020

RenaissanceRe could further reduce its exposure to Florida domestic companies if rate increases do not meet the companies return hurdles this year, according to its President and CEO, Kevin O’Donnell. Speaking in an earnings call alongside the release of RenRe’s Q4 and 2019 results, O’Donnell warned of “substantial structural issues” ... Read the full article

Many lines still lack price adequacy, but increases will persist: AXIS CEO

6th February 2020

Reinsurance price momentum continued at the January 1st, 2020 renewals but even with the strong rate response in certain classes, many lines are still not at attractive levels, according to Albert Benchimol, the President and Chief Executive Officer (CEO) of Bermuda-based re/insurer, AXIS Capital Holdings Limited. After consecutive heavy catastrophe loss ... Read the full article

SCOR notes 2.8% pricing increase, looks to improve reinsurance profitability

6th February 2020

French reinsurer SCOR Global P&C has announced that it secured an increase in reinsurance underwriting profitability at the January 1st, 2020 renewals, which reflects a 2.8% increase in pricing. SCOR notes that trends witnessed at the important January 2020 renewals were consistent with those seen during 2019, with the firm securing ... Read the full article

Hannover Re posts 2.3% rate rise at ‘solid’ January renewal

5th February 2020

Reinsurance giant Hannover Re expects to generate net income of around €1.28 billion in 2019 and grew its premium volume in traditional property and casualty reinsurance by 14% at January 1 renewals, with the price increase for the renewed business amounted to 2.3%. At 15.5%, the strongest growth in the renewals ... Read the full article

Reinsurance capacity down at political risk renewals: Willis Re

28th January 2020

A decline in reinsurance capacity has helped to trigger price hardening in some quarters of the political risk and trade credit market at the January renewals, according Willis Re. The broker noted that, while there remains an abundance of headline insurance capacity in the political risk space, actual capacity is down ... Read the full article

Bermuda re/insurers set for improved pricing trends in 2020: Fitch

27th January 2020

Bermuda re/insurers are likely to see continued price firming in 2020, with surplus growth and modest gains in underwriting profits driven by organic growth opportunities and solid capital levels, according to Fitch Ratings. The rating agency noted that the market’s financial performance has recently been supported by higher unrealised investment gains ... Read the full article

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.