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Reinsurance renewals

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.

40% retro hike to bump property reinsurance pricing to double digits: Credit Suisse

28th January 2019

Property reinsurance price increases are expected to rise from current low-single digit levels to double-digits as 2019 progresses, according to analysts at multinational investment bank and financial services firm Credit Suisse. Credit Suisse underlines the ~40% retrocessional pricing increase reinsurers have faced, following substantial retro market losses in both 2017 and ... Read the full article

Zurich CEO optimistic about P&C rates in 2019

25th January 2019

Mario Greco, Chief Executive Officer of Zurich Insurance Group, has said that the company is optimistic about the prospects for property and casualty (P&C) re/insurance pricing in 2019. Speaking in an interview with CNBC at the World Economic Forum 2019 event in Davos, Switzerland this week, Greco said that market conditions ... Read the full article

RLI increases cat reinsurance limit by $90mn at Jan renewals

25th January 2019

Specialty insurer and reinsurer RLI Corporation has increased its catastrophe reinsurance protection limit by $90 million at the recent January renewals to cover an expected growth in exposures. Craig Kliethermes, President and Chief Operating Officer (COO) at RLI, explained that about half of the company’s reinsurance spend is placed at year-end, ... Read the full article

Market pressures to persist as lack of clarity around losses, price remains: JLT Re

24th January 2019

Global reinsurance broker JLT Re has said that a lack of clarity surrounding both pricing adequacy and loss development is likely to fuel pressure through 2019, against a backdrop of muted pricing actions following consecutive years of increased catastrophe losses for the industry. JLT Re, the reinsurance arm of global broker ... Read the full article

Modest, regionalised price increases expected throughout 2019: S&P

24th January 2019

Despite reinsurers globally holding out for meaningful pricing movement after shouldering roughly a quarter of the $80 billion insured losses throughout 2018, S&P Global Ratings expects the modest, increasingly regionalised price increases seen at the January renewals to persist throughout 2019. Furthermore, the rating agency believes that 2018’s losses exceeded cat ... Read the full article

Cat-exposed property lines to see double-digit rate increases: AmWINS

23rd January 2019

The property re/insurance market experienced some firming at the recent January renewals, which could translate into double-digit rate increases for catastrophe-exposed business as we progress further into the year, according to analysts at AmWINS. The specialty insurer added that spikes of up to 40% were “not out of the question” for ... Read the full article

Rate increases “better than planned” across specialty classes: Peel Hunt

22nd January 2019

Rate increases across specialty insurance classes have been “better than planned” over the last two months, according to analysts at Peel Hunt. The firm pointed to improvements in classes such as marine, energy and property, but noted that rates are still coming off the bottom of the cycle and need to ... Read the full article

Reinsurance pricing to “trend up modestly” through 2019: KBW

22nd January 2019

Analysts at Keefe, Bruyette & Woods (KBW) are anticipating that reinsurance pricing will “trend up modestly” as growth in demand outpaces the ongoing abundance of capacity. The firm acknowledged that the vast amount of third-party capital in the market will likely result in much smaller post-loss pricing swings than in the ... Read the full article

“Armageddon scenario” needed to turn reinsurance pricing: Jason Howard

18th January 2019

With roughly $600 billion of capital still flowing through the reinsurance market after a succession of costly catastrophe years, large-scale hardening outside of an “armageddon scenario” seems extremely unlikely, according to the Chief Executive Officer of reinsurance brokerage Beach & Associates, Jason Howard. Addressing an audience yesterday in the Old Library ... Read the full article

Limited room for reinsurance rates to decline further: Peel Hunt

16th January 2019

With returns across the reinsurance industry slipping below the cost of capital, there is little room left for rates to decline from their current level, according to analysts at Peel Hunt. Peel Hunt noted that reinsurance rates are still at the bottom of the recent pricing cycle, and will only improve ... Read the full article

Rates diverge between loss-affected accounts at 1/1 renewals: Peel Hunt

15th January 2019

Property catastrophe re/insurance rates fell by an average of 1% at the January renewals, but there was a wide divergence in trends between loss-affected and loss-free accounts, according to analysts at Peel Hunt. The firm attributed some of the muted results at the recent 1/1 renewals to the focus on European ... Read the full article

European re/insurers to maintain stable pricing through 2019: Deutsche Bank

15th January 2019

Most European insurers and reinsurers are likely to maintain existing pricing trends through 2019 as last year’s catastrophe losses look set to keep the market stable for now, according to analysts at Deutsche Bank. A recent report from the firm noted that loss activity (particularly in the U.S) was lower year-on-year ... Read the full article

Increased demand for reinsurance to boost brokers’ revenues: KBW

14th January 2019

Following the reinsurance renewal reports published by Willis Re and JLT Re pointing to flat overall pricing at 1/1, analysts at Keefe, Bruyette & Woods (KBW) have stated that a growing overall demand should boost reinsurance brokers’ revenues. KBW points to Marsh & Mclennan Companies and Willis Towers Watson as ... Read the full article

Rates continue to increase across commercial lines at Q4: IVANS

14th January 2019

Premium renewal rates during the fourth quarter of 2018 continued to increase across almost all commercial lines, according to the latest IVANS Index report. IVANS, which is a division of Applied Systems, found that premiums increased across almost every major commercial line when compared with Q3, with the exception of Workers’ ... Read the full article

Reinsurance rates increase by 1.1% at Jan renewals: Guy Carpenter

14th January 2019

Reinsurance brokerage Guy Carpenter has said that the limited movement of rates at the recent January 1, 2019 renewals has raised concerns about pricing adequacy, underwriting strategy and the amount of capital available in the market. The firm’s Global Rate on Line (RoL) Index, which measures the change in catastrophe premium ... Read the full article

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