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.
Reinsurance pricing to remain ‘upbeat’ for January renewals – Morgan Stanley
15th September 2022
Financial giant Morgan Stanley has reflected on the Monte Carlo Rendezvous, saying that participants had predicted pricing to ‘remain upbeat’. Morgan Stanley wrote in a new note: “The recent benign hurricane season and rising interest rates do not seem to be an area of concern for pricing momentum. As expected, the ... Read the full article
Rate discussions inevitable amid accelerating loss cost drivers: Thierry Léger, Swiss Re
14th September 2022
As the year turns the corner towards its end, it is time not only to take stock of everything that has happened in 2022, but also of what may - or probably will - come to pass in 2023. Reinsurance News recently took the time to sit with Thierry Léger, CUO ... Read the full article
Everest “well-positioned” for growth ahead of highly promising 1/1: Jim Williamson
14th September 2022
Everest Re's Chief Operating Officer and Head of Reinsurance, Jim Williamson, spoke with Reinsurance News to share his thoughts on Everest's major international expansion plans, as well as the Florida property market, and the upcoming renewals. Williamson said: “As a go-to-market for all reinsurance purchases around the world with cedents in ... Read the full article
Reinsurance market outlook improving ahead of Jan 2023 renewals: Peel Hunt
14th September 2022
As the industry meets in Monte Carlo for the first time since the end of the pandemic, analysts at Peel Hunt suggest the reinsurance market outlook is improving ahead of the key January 1st, 2023, reinsurance renewals. The first half of the year results from specialty re/insurers and the rate commentary ... Read the full article
Strong demand for reinsurance amid high inflation: Goldman Sachs
13th September 2022
With the 2022 annual briefings having started in Monte Carlo, analysts at Goldman Sachs have highlighted a strong demand for reinsurance amid higher inflation, while capital supply is flat to down. It expects strong rate increases will continue in the January 2023 renewals, with companies taking a more cautious view. Goldman ... Read the full article
Reinsurance market is at an interesting point: Inver Re’s Jonathan Prinn
12th September 2022
With the ongoing war in Ukraine and climate change set to add to inflationary pressure on the economy, at a time when some reinsurers are looking to diversify away from catastrophe business, it’s an interesting time for the marketplace, according to Jonathan Prinn, Chief Executive Officer (CEO), London, Inver Re. As ... Read the full article
Tight market to persist amid rise in demand for protection: Peak Re CEO Hahn
12th September 2022
While it remains too early to predict how the January 1st, 2023, reinsurance renewals will develop in Asia, current trends suggest that tight market conditions will persevere as demand for protection rises, according to Franz Josef Hahn, Chief Executive Officer (CEO) of Hong Kong domiciled reinsurer, Peak Re. Reinsurance News spoke ... Read the full article
Hiscox sees opportunities at hard 1/1: Kathleen Reardon
11th September 2022
Kathleen Reardon, Chief Executive Officer (CEO) at Hiscox Re & ILS, has said that she sees “interesting opportunities” for her company at the upcoming January 1st renewals, as signs point to continued reinsurance price increases. Speaking in a recent interview with Reinsurance News, Reardon explained that “the direction of travel currently ... Read the full article
Munich Re has no ambition to shrink capacity: Jeworrek
11th September 2022
Munich Re has no ambition to shrink its capacity on offer at the upcoming January 2022 renewals, according to Torsten Jeworrek, CEO of Reinsurance and a member of the Board of Management at the German reinsurance giant. Speaking during a press briefing at this year’s RVS event in Monte Carlo, Jeworrek ... Read the full article
Reinsurance market experiencing hardening not seen since 2006, says Howden
9th September 2022
According to Howden’s Reinsurance Market Report, heightened volatility caused by various aspects of the current risk landscape has led the market to harden in several areas to a degree not seen since 2006. With unexpected losses from Ukraine coming fast on the heels of COVID-19, and reported claims to date for ... Read the full article
Renewal rate increases “eaten up by live issues” – Swiss Re’s Mumenthaler
9th September 2022
Reinsurance companies reported some fairly significant price increases during the 2022 renewals, but the impacts of inflation and adapted models has, for the most part, offset these rises, according to Christian Mumenthaler, Chief Executive Officer (CEO) of Swiss Re. In a recent video interview, Mumenthaler spoke with ... Read the full article
Reinsurance market needs more navigating than in the past: Aon’s Andy Marcell
8th September 2022
The combination of the current inflationary trend and challenges in the property space is driving growth in values and total insurable values (TIVs), leading many buyers of reinsurance to seek more limit at the upcoming renewals. But as reinsurer appetite for property catastrophe business wanes, Aon sees a marketplace "that's ... Read the full article
GC confident industry ‘will come together’ despite property cat retreat: Lara Mowery
8th September 2022
Demand for property reinsurance protection is expected to increase in 2023 at multiples of recent years, but despite numerous reinsurers announcing some form of retreat from the property catastrophe space, Guy Carpenter is confident the market will find a way to provide solutions. Speaking yesterday during a media briefing held by ... Read the full article
Howden warns of ‘tipping point’ for reinsurance market ahead of 1/1
8th September 2022
Climate, conflict, and capital are uniting to create a "tipping point" for the global reinsurance market ahead of the key, January 1st, 2023, reinsurance renewals, according to re/insurance broker Howden. As the market prepares to meet once again in Monte Carlo after a COVID-19 induced hiatus, Howden has released its latest ... Read the full article
Reinsurance environment is “truly changing”: GC’s David Priebe
7th September 2022
David Priebe, Chairman of reinsurance broker Guy Carpenter, has asserted that the reinsurance industry is “truly changing” in response to the multitude of challenges it has faced this year. Currently speaking as part of an ongoing virtual media briefing on ‘Materializing Possibilities’, the GC Chairman stressed that the reinsurance industry must ... Read the full article