Reinsurance News

Reinsurance renewals

Mixed mid-year pricing results for Florida property cat reinsurers: Willis Re

11th July 2018

Property catastrophe pricing has been mixed for reinsurers in Florida at mid-year renewals, as increased demand for some companies following 2017’s catastrophes was offset by further non-traditional capital entering the market, according to reinsurance broker Willis Re. Willis Re’s 1st View Report observed that companies that performed well in Hurricane Irma ... Read the full article

Global re/insurance M&A set to be second most active year ever: Willis Re

11th July 2018

Willis Re's latest 1st View renewals report suggests that 2018 could be the most active year for M&A across the global insurance sector since 2015 - when volume was $121 billion, boosted by the ACE-Chubb merger - with YTD deal volume running at $44 billion. Transactions such as AXA’s $15 billion purchase ... Read the full article

Current market landscape has challenged long-term reinsurance business model: Analysts

10th July 2018

Morgan Stanley analysts have warned that the current reinsurance market landscape has challenged the long-term business model of reinsurance companies, in light of disappointing rate increases on the back of 2017's catastrophe losses and five years of pricing reductions. In spite of the record-level of global catastrophe losses experienced in 2017, ... Read the full article

Kingstone renews reinsurance treaties under increased coverage

9th July 2018

Kingstone Companies, a multi-line regional property and casualty (P&C) insurance holding company, has announced that its wholly-owned subsidiary, Kingstone Insurance Company (KICO), has renewed its reinsurance coverage for the treaty year beginning July 1, 2018. KICO has entered into various reinsurance agreements with multiple reinsurers, which include increased coverage, improved terms, ... Read the full article

Headwinds curb positive marine rating movement: Willis Re

5th July 2018

Abundant capital across the marine space and continued pressures from both attritional losses and 2017’s hurricane trio Harvey, Irma and Maria is curbing pressure for upwards rating movement, according to Willis Re in its latest 1st View report. Additionally, regional catastrophe loss experience and specialism-specific performance have influenced renewal terms in ... Read the full article

Reinsurers unlikely to earn back 2017 catastrophe losses: Deutsche Bank

2nd July 2018

Deutsche Bank equity analysts have suggested that global reinsurance companies are unlikely to earn back 2017 catastrophe losses as a result of insufficient rate increases at the January, April and June renewals, with further disappointment expected through July. Deutsche Bank analysts recently met with management of global reinsurance giant Munich Re, ... Read the full article

Florida leads price declines in disappointing mid-year renewals: Willis Re

2nd July 2018

Excess capital, the stabilisation of 2017 catastrophe loss estimates and benign loss activity so far in 2018 are driving a 'new normal' in property catastrophe reinsurance pricing, underlined by disappointing June/July property catastrophe renewals, according to Willis Re. The global reinsurance broker has released its latest 1st View renewals report, which ... Read the full article

Further disappointment for Jan 2019 renewal possible, says Morgan Stanley

2nd July 2018

After meetings with seven re/insurers (Arch, Axis, Hiscox, Nephila, PartnerRe, RenRe, and Third Point Re), Morgan Stanley has indicated that, in absence of large, unexpected losses or significant industry reserve issues, there's potential for further pressure at the key January 2019 renewals. Morgan Stanley points to an abundant supply of alternative and ... Read the full article

Neutral outlook for European reinsurers, pricing momentum to firm: Deutsche Bank

22nd June 2018

Hannover Re, Swiss Re, Munich Re and SCOR all experienced weaker-than-expected January/April renewals despite an impact of more than $100 billion from natural catastrophes in 2017, according to Deutsche Bank. Deutsche Bank's outlook has subsequently turned more cautious towards European reinsurance, taking a neutral stance from its previous positive view in ... Read the full article

2017 losses unmasked broader reinsurance price inadequacy: KBW

20th June 2018

The major hurricane and catastrophe losses of 2017 while not sufficient to significantly boost property catastrophe reinsurance rates, have unmasked the inadequacy of pricing more broadly across the sector, according to analysts. Reinsurance pricing did respond to the losses of 2017, but increases seen at the key January reinsurance renewals ... Read the full article

Oxbridge Re successfully renews reinsurance contracts

8th June 2018

Oxbridge Re Holdings Limited has reported that its wholly-owned subsidiary, Oxbridge Reinsurance Limited, has successfully placed its reinsurance contracts for the treaty year of June 1, 2018 to May 31, 2019. The successful placement sees Oxbridge’s subsidiary deploy all of its capacity into renewal contracts for clients at June 1. Jay Madhu, ... Read the full article

Reinsurance price levels at risk of declining in 2019: Deutsche Bank

7th June 2018

Following meetings with large European reinsurers, analysts at Deutsche Bank have warned that the current pricing dynamics in the industry will result in a muted pricing effect through 2018 with the risk of rates declining in 2019. During Deutsche Bank's 2018 Global Financials Conference, global reinsurers suggested a need to scale ... Read the full article

Disappointing Florida renewals only justified if hurricane season is benign, warns Peel Hunt

5th June 2018

After reported, disappointing reinsurance rate increases of 1.2% at the Florida June property catastrophe renewals, analysts at Peel Hunt have said that increases at these levels can only be justified if the 2018 hurricane season proves to be benign. Following years of falling rates as a result of benign loss activity ... Read the full article

More modest-sized losses will do little to change market, says JMP Securities

4th June 2018

Despite 2017 catastrophe events resulting in one of the costliest years on record for insurers and reinsurers, the highly competitive and overcapitalised state of the market resulted in muted change, with a true tail event needed to potentially bring about more meaningful change, reports JMP Securities. Forecasters and experts are calling ... Read the full article

Negligible rate increases at June 1st, Florida RoL Index up just 1.2%: JLT Re

1st June 2018

Reinsurance broker JLT Re has said that rate increases achieved at the key June 1st 2018 reinsurance renewals were negligible, as the firms Risk-Adjusted Florida Property-Catastrophe Rate-on-Line (ROL) Index rose by only 1.2%. JLT Re's research found that only low single-digit reinsurance rate increases were seen at the June 1st 2018 ... Read the full article

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