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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.

Weak pricing outlook for mid-year renewals, says Arch CEO

9th May 2018

Marc Grandisson, President and Chief Executive Officer (CEO) of Arch Capital Group, has predicted that pricing trends at the mid-year renewals are likely to remain flat or even decrease, largely due to industry posturing. Speaking during the company's Q1 2018 earnings call, Grandisson explained that at the recent April 1 renewals ... Read the full article

Hannover Re expecting to surpass P&C Re strategic growth target

8th May 2018

Germany-based reinsurer Hannover Re expects to surpass its strategic growth target for its overall property and casualty (P&C) reinsurance business, driven in part by increased demand in structured reinsurance. The reinsurer recently announced its first-quarter 2018 results, which revealed solid premium growth enabled by taking advantage of improved reinsurance market conditions ... Read the full article

Aspen seeing mid-year rate increases of up to 7.5%: CEO, O’Kane

8th May 2018

Aspen Re, the reinsurance segment of Bermudian re/insurance group Aspen Insurance Holdings Limited, saw rate increases of 5.3% in the first-quarter of 2018, and while rates moderated at the April renewals, the firm's already seeing increases of up to 7.5% for loss-affected accounts incepting in June. Aspen's first-quarter results commentary is ... Read the full article

Little prospect of rate improvement at mid-year renewals: Hiscox

8th May 2018

Having said before that it expected rate momentum to continue through 2018, global insurance and reinsurance firm Hiscox has now changed its tune, saying that it sees "little prospect of rate improvement" for the rest of this year. In February, the Hiscox management suggested that they were anticipating further rate ... Read the full article

Hannover Re starts 2018 with solid premium growth

7th May 2018

German reinsurance firm Hannover Re has begun 2018 with solid growth in premiums underwritten, as the firm took advantage of better market conditions to create a much larger portfolio for the year ahead. Across the business, Hannover Re reported a 17.6% increased in premiums underwritten for the quarter, a figure which ... Read the full article

SCOR “looking forward” to mid-year, expects confirmation of positive trends

4th May 2018

French insurer and reinsurer SCOR remains on track to deliver growth in 2018, and with the insights of the January and April renewals, is looking forward to mid-year when it expects further confirmation of positive trends. For the first-quarter of 2018 SCOR recorded net income of €166 million, up almost 17% ... Read the full article

AXIS CEO notes subdued reinsurance market as primary growth continues

2nd May 2018

Albert Benchimol, the President and Chief Executive Officer (CEO) of Bermuda domiciled insurer and reinsurer, AXIS Capital Holdings Limited, remains cautiously positive on the outlook for the sector and believes the market is "simply too stressed to give up any more pricing." Commenting on both insurance and reinsurance rate movements during ... Read the full article

Universal to maintain catastrophe retention and increase reinsurance cover

30th April 2018

Jon Springer, President and Chief Risk Officer (CRO) of Universal Insurance Holdings has indicated that the company plans to maintain its current level of catastrophe retention and increase its reinsurance cover, while at the same time spending less than in prior years. Speaking during Universal’s Q1 2018 earnings call, Springer also ... Read the full article

The current reinsurance market is unsustainable, warn industry execs

30th April 2018

Put simply, the current state of the reinsurance market is unsustainable, and as the ability to subsidise margins with reserve releases diminishes, the sustainability of the overall insurance and reinsurance marketplace needs to be given some thought. This is according to industry experts and executives that spoke with A.M. BestTV at ... Read the full article

Lloyd’s market to benefit from further rate hikes at mid-year: RBC Capital Markets

25th April 2018

Pricing is beginning to show signs of turning for the Lloyd's of London market, bringing the promise of a margins recovery after January renewals were up in total by 5-7% year-on-year, with further increases forecast in U.S. loss affected business at mid-year renewals, according to RBC Capital Markets. Lloyd's experienced over ... Read the full article

Reinsurance pricing stable to positive following costly nat cat year: Moody’s

18th April 2018

Moody’s has reported that January 1 reinsurance price renewals were lower than the market expected following a year of substantial natural catastrophe losses, but still expects reinsurers’ profitability to improve modestly based on rate increases, efficiency initiatives, and slowly rising interest rates. Costly disasters in 2017 like the series of Atlantic ... Read the full article

Market transition underway, but who knows if rate firming will persist: Chubb’s Greenberg

13th April 2018

After years of falling rates in the global property and casualty (P&C) industry, prices are starting to firm in some areas in response to 2017 catastrophe events, although it remains unclear just how long the positive rate momentum will last, according to Evan Greenberg, the Chairman and Chief Executive Officer ... Read the full article

Property capacity remained strong at April 1st renewals: Willis Re

11th April 2018

Broker Willis Re has reported that capacity for the property sector remained strong, both in the U.S and globally, despite April 1st renewal price increases being lower than anticipated. In its latest reinsurance renewals report, Willis Re found that April 1st renewal price increases were tempered by weak increases at January ... Read the full article

Renewal pricing “broadly flat” at April 1st: Willis Re

3rd April 2018

Reinsurance renewal pricing was seen as "broadly flat" at the April 1st contract negotiations, as the reinsurance market continued to be affected by excess levels of capital and pricing as a result has disappointed reinsurers, according to broker Willis Re. In its latest reinsurance renewals report, broker Willis Re explains that ... Read the full article

Analysts predict increases in P&C reinsurance pricing and demand

12th March 2018

Insurance and reinsurance Industry analysts Keefe, Bruyette & Woods (KBW) and Morgan Stanley have suggested that the outlook for property and casualty (P&C) reinsurance is positive both in terms of pricing and demand. KBW notes that, although January 1st 2018 reinsurance rates were below most companies’ post-Q3 2017 expectations, reinsurance pricing ... Read the full article

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