Reinsurance News
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
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
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
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
31st May 2018
Federated National Holding Company (FNHC) has completed its excess of loss catastrophe reinsurance programme for 2018-19, which will provide FNHC and its wholly-owned insurance subsidiaries, Federated National Insurance Company (FNIC) and Monarch National Insurance Company (MNIC), with $1.34 billion of reinsurance coverage in excess of $23 million retention for catastrophic ... Read the full article
31st May 2018
Universal Insurance Holdings, Inc. has announced that its wholly owned subsidiaries, Universal Property & Casualty Insurance Company (UPCIC) and American Platinum Property and Casualty Insurance Company (APPCIC), have completed their 2018-19 reinsurance programmes. Private participants in the reinsurance programmes include Nephila Capital (via Allianz Risk Transfer), Everest Re, RenaissanceRe, Chubb Tempest ... Read the full article
25th May 2018
In meetings with insurance and reinsurance market participants in Bermuda, analysts at Keefe, Bruyette & Woods (KBW) heard that mid-year catastrophe reinsurance rate increases are lagging those seen at the Jan renewals, suggesting the old business model is "permanently" damaged. The majority of reinsurers KBW spoke with confirmed that mid-year reinsurance ... Read the full article
24th May 2018
Reinsurance giant Munich Re is anticipating a tepid rate environment at the mid-year 2018 reinsurance renewals, but is targeting further growth into the United States market, where its share remains below its global average. Like many other firms Munich Re's expectations for the mid-year June 1 and July 1 reinsurance renewals ... Read the full article
22nd May 2018
After evaluating improved market conditions, the Florida Hurricane Catastrophe Fund (FHCF) is looking to secure $1 billion of reinsurance protection at the mid-year renewals, at a preliminary attachment point of $10.5 billion. Following the impacts of hurricane Irma in 2017, it appears the FHCF is looking to adjust its financing for ... Read the full article
21st May 2018
The condition of the property catastrophe reinsurance market following 2017 catastrophe events and the January and April renewals, suggests a flat mid-year renewals season is not out of the question and that average pricing will be up a few points at best, JMP Securities says. Following two days of meetings in ... Read the full article
21st May 2018
The long-term business model of the reinsurance industry is being challenged by the inability of reinsurers to command pay-back following the losses of 2017, leading to a likelihood of more sector mergers & acquisitions, according to analysts from Morgan Stanley. Having visited Bermuda recently to meet with reinsurers, Morgan Stanley's analyst ... Read the full article
18th May 2018
Ulrich Wallin, the Chief Executive Officer (CEO) of global reinsurer Hannover Re, isn't very optimistic on the Florida renewals owing to the substantial availability of capacity that continues to drive a supply / demand imbalance, in spite of 2017 catastrophe events. Speaking during the firm's first-quarter 2018 earnings call, the CEO ... Read the full article
18th May 2018
Bruce Lucas, the Chairman and Chief Executive Officer (CEO) of Heritage Insurance Holdings, has hailed the firm's comprehensive reinsurance program after recoveries from its capacity providers helped offset storm losses in the first-quarter of 2018. Speaking during the insurer's first-quarter 2018 earnings call, Lucas explained how its "comprehensive" reinsurance program further ... Read the full article
16th May 2018
Group Chief Executive Officer (CEO) of Lancashire Holdings Limited, Alex Maloney, doesn't expect rates for the firm's book to get any stronger from here unless loss activity picks up, but also doesn't see rates going backwards. Lancashire Holdings has now reported its first-quarter 2018 results, reporting minimal loss activity and positive ... Read the full article
16th May 2018
Profitable results in the fast-growing cyber space have led to fierce competition and a buyers market, with renewal rates expected to suffer, according to Fitch Ratings. Fitch observed that cyber continues to represent a significant growth opportunity for U.S property & casualty (P&C) re/insurers, driven by increasingly high-profile cyber-attacks and regulatory requirements. In ... Read the full article
