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.

Fitch remains negative on reinsurance, but underwriting results to improve in 2018

8th December 2017

In light of catastrophe losses experienced in the second-half of 2017, Fitch Ratings has maintained its negative outlook for the reinsurance sector, while the majority of reinsurer rating outlooks remain stable. As the January 1st, 2018 renewals fast approach, global reinsurance companies are expecting rate increases to improve the profitability of ... Read the full article

Moody’s stable on global reinsurers, buyers anticipate price hardening

8th December 2017

Moody's Investors Service holds a stable outlook for global reinsurance companies despite the impacts of third-quarter catastrophe losses, citing strong capital positions and the expectation of price hardening. Global reinsurers are expecting price hardening at the upcoming renewals in light of Q3 catastrophe losses that are estimated to reach around $100 ... Read the full article

Reinsurers’ upwards loss provisions in 2018 to fill $20bn loss gap: Jefferies

7th December 2017

Remaining catastrophe losses still unaccounted for are estimated by Jefferies to be in the $20 billion ballpark - a disparity likely to fuel reinsurance price rises when some companies' provide upwards loss provisions in 2018. "At first glance, it appears that the industry midpoint estimate of $95bn may have overestimated the ... Read the full article

Property catastrophe reinsurers set for rate hikes at 1/1 renewals: Morgan Stanley

7th December 2017

Property catastrophe reinsurers are set to see the first pricing increase in years as they race towards the January 1st renewals, Morgan Stanley said after speaking to 9 re/insurers at Bermuda meetings. “Jan 1 renewals have been slower than normal but early transactions indicate +20-30% rate increases in retro, +10-20% in ... Read the full article

Blue Capital Reinsurance Holdings optimistic on 2018 returns

1st December 2017

Blue Capital Reinsurance Holdings (BCRH) has released an optimistic projected return for 2018 based on the view that upcoming renewals will see catastrophe risk prices rise after the record-level of industry losses in Q3. The company's projected growth in fully converted book value per common share for 2018 is set at ... Read the full article

Markel CATCo raises over $2.3bn of fresh capital for 1/1

29th November 2017

Collateralized reinsurance and retrocessional investment fund manager, Markel CATCo Investment Management Ltd., has raised a huge $2.343 billion of new capital across its private and listed funds, placing the manager in a good position to meet demand at the key January 1st, 2018 renewals. Markel CATCo announced at the end ... Read the full article

Reinsurance price surges will be dampened by excess capital

29th November 2017

CreditSights anticipates a hardening of the rate environment going into the January 2018 renewals in the natural catastrophe affected lines of business, but not within the overall reinsurance market owing to excess capacity. Analysts suggest that price changes will follow patterns seen after 2005 when reinsurance capital was significantly depleted by ... Read the full article

Expectation of more realistic and sustainable rates “totally reasonable” says XL Catlin’s Hendrick

28th November 2017

Greg Hendrick, President of insurer and reinsurer XL Catlin's Property & Casualty (P&C) division, in a note on the re/insurance industry in light of third-quarter catastrophe events, has reiterated the company's expectation of rate improvements at the upcoming renewals and anticipates change to evolve positively over time. After expected catastrophe losses ... Read the full article

Very interesting year ahead after industry “wake up call” says Kurt Karl, Swiss Re

27th November 2017

The recent, devastating impacts of third-quarter catastrophe events and the California wildfires serve as a wake up call to the insurance and reinsurance industry, with 2018 expected to be a very interesting year for the marketplace, according to Swiss Re's Chief Economist, Kurt Karl. In an interview with Reinsurance News, Karl ... Read the full article

Not a fun year for reinsurance, general price turn expected: Kurt Karl, Swiss Re

21st November 2017

2017 has not been a fun year for profitability in the reinsurance industry, according to Swiss Re's Chief Economist Kurt Karl, who said this morning that his company expects to see price hardening, particularly in the United States and loss affected areas but also more generally across the industry. Speaking this ... Read the full article

Hiscox underwriters told to push for price rises, even if top line shrinks

21st November 2017

Underwriters at insurance and reinsurance firm Hiscox have been told by senior management that they must push for price rises, following recent major catastrophe losses, even if it is at the expense of top line. Hiscox has been among the most bullish in pushing for price increases across insurance and reinsurance ... Read the full article

Aspen expects significant rate increases, 20%+ in loss-affected lines

20th November 2017

Aspen Insurance Holdings Limited (Aspen) has said that it expects to see rate increases of up to 20% and higher in reinsurance lines and up to 20% in primary lines of business, following market dislocation after high levels of catastrophe losses in the third-quarter of this year. Insurer and reinsurer Read the full article

Lower supply coupled with greater demand means pricing “will go up”, says Hiscox CEO

17th November 2017

According to Bronek Masojada, the Chief Executive Officer (CEO) of global insurer and reinsurer Hiscox, a reduction in the supply of capital combined with greater demand for re/insurance protection is the reason pricing "will go up and needs to go up." Unsurprisingly, insurance and reinsurance industry talk is focused on companies' ... Read the full article

National Mortgage Insurance gets new quota share reinsurance for 2018

16th November 2017

NMI Holdings, Inc., the parent of National Mortgage Insurance Corporation, said today that its mortgage insurer subsidiary has already arranged a new quota share reinsurance arrangement for 2018, subject to approvals. National Mortgage Insurance Corporation has entered into an agreement on a new quota share reinsurance treaty with a panel of ... Read the full article

Rate increases could be higher than in 2011: Munich Re

15th November 2017

According to reinsurance giant Munich Re, the post-loss rate increases coming at the January 2018 and future reinsurance renewals could be higher than those witnessed after the 2011 earthquake industry losses. While overall industry losses to insurance and reinsurance interests may be less than seen in 2011, the way 2017's loss ... Read the full article

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