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Reinsurance News

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.

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

Gard renews P&I reinsurance for 2019 through the International Group

14th January 2019

Gard, a shipowner-controlled protection and indemnity (P&I) marine and energy insurer, has outlined the terms of its 2019 reinsurance program, which it arranged through the International Group of P&I Clubs (IGP&I). The structure of the cover reinsured through the pool includes club retention of $10 million, general excess loss cover of ... Read the full article

Reinsurance rates to improve through mid-year 2019: Goldman Sachs

11th January 2019

While early indications indicate that reinsurance pricing was largely flat at the January 2019 renewals, analysts at Goldman Sachs are confident that rates will improve later in the year at the renewals in April and June. The firm argued that two consecutive years of elevated catastrophe activity should lead to improved ... Read the full article

“Interesting” 1/1 market dynamics to continue into April: Aon

11th January 2019

Re/insurance broker Aon has said that the “interesting” market dynamics that affected reinsurance pricing at the recent 1 January renewals are likely to continue to influence rates throughout the coming year. The company’s ‘Reinsurance Market Outlook 2019’ report noted that reinsurance buyers continue to secure protection at accretive cost of capital ... Read the full article

Downstream energy rates set to improve after difficult 2018: JLT

8th January 2019

Rates in the downstream energy sector look set to improve in 2019 as re/insurance companies finally take a stand against increasingly poor underwriting results over the last few years, according to analysts at JLT. The re/insurer’s latest quarterly energy report noted that management oversight and pressure to turn rates around has ... Read the full article

United Insurance extends quota share, renews catastrophe reinsurance

7th January 2019

United Insurance Holdings (United) has announced the successful extension of its current 20% catastrophe quota share reinsurance agreement until June 2019, whilst also renewing its catastrophe aggregate and other reinsurance agreements. Effective 31 December 2018, through its United Property and Casualty Insurance Company (UPC) subsidiary, United extended its 20% quota share ... Read the full article

Retro market disruptions may impact future renewals: Willis Re

7th January 2019

Disruptions and trapped collateral in the retrocession market may have an impact on first-tier reinsurance property catastrophe pricing levels over the upcoming 2019 renewals, according to broker Willis Re. The analysis came as part of the firm's latest 1st View report, which found that reinsurance rates at the 1 January ... Read the full article

Pricing broadly stable across U.S casualty renewals, finds Willis Re

3rd January 2019

The latest 1st View report from Willis Re has found that U.S casualty reinsurance pricing trends were mixed at the 1 January 2019 renewals, with pockets of rate increases and decreases across a broadly stable market. The findings came as part of the broker's wider market analysis, which found that Read the full article

IAG expands catastrophe reinsurance to $9 billion of coverage

3rd January 2019

Australian primary insurer Insurance Australia Group Limited (IAG) has successfully renewed its catastrophe reinsurance protection at an expanded size of $9 billion, up from $8 billion in the prior year. The 12.5% increases in catastrophe reinsurance limit has been secured in a similar structure to 2018, to provide IAG with ... Read the full article

January renewals highlight reinsurance “pricing gap”: Willis Re

2nd January 2019

The January 2019 reinsurance renewals have highlighted a "pricing gap" between cedants with peak peril exposure or poor loss records and other accounts, according to a new report from broker Willis Re. The company earlier told the Financial Times that reinsurance rate increases did not materialise at the 1 January renewals, ... Read the full article

Reinsurance renewals defy expectations of post-loss firming: JLT Re

2nd January 2019

The January reinsurance renewals "broadly defied early expectations of post-loss firming for the second consecutive year," according to broker JLT Re. Reinsurers' desire and ability to underwrite risks remained healthy overall, the broker said this morning, and as a result pricing was seen as broadly stable across reinsurance markets at the ... Read the full article

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