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.

Excess capacity continues to dominate Florida property catastrophe market: Peel Hunt

12th June 2017

Pressure on Florida focused reinsurers to cut back exposures is mounting as June 1 property catastrophe reinsurance renewals show continued rate declines as the long-awaited pricing bottom fails to materialise in a market dominated by excess capacity. Peel Hunt equity analysts have echoed JLT Re's estimate of a 5.1% rate drop ... Read the full article

IAG purchases additional $1 billion catastrophe reinsurance cover

9th June 2017

Australian general insurer Insurance Australia Group (IAG) has strengthened its reinsurance cover through the purchase of an additional $1 billion catastrophe protection on top of its existing $7 billion programme. The $1 billion reinsurance deal includes one prepaid reinstatement and begins on 1st of June running for a contractual period of 19 ... Read the full article

No sign pricing will bounce back quickly as reinsurance market nears bottom: Deutsche Bank

9th June 2017

The January 1st, 2018 renewal season could see pricing in the reinsurance market finally reach the elusive and much discussed bottom of the cycle, with the question then turning to how long the trough will be, suggests analysts at Deutsche Bank. Deutsche Bank has completed its seventh Global Financial Services Conference in ... Read the full article

Reinsurer ROEs to diminish further regardless of reduced loss activity: KBW

8th June 2017

Any "subsidy" to the return on equities (ROEs) of reinsurers is likely to diminish in response to persistent and worse-than-anticipated rate declines at recent renewals, regardless of fewer catastrophe events in the coming months, according to Keefe, Bruyette, & Woods (KBW). For the most part, the utilisation of reserves and the ... Read the full article

Heritage completes reinsurance placement at cheaper cost & improved terms

6th June 2017

Heritage Insurance Holdings, Inc.'s insurance subsidiaries, Heritage Property & Casualty Insurance Company (Heritage P&C) and Zephyr Insurance Company (Zephyr), have completed their respective 2017-2018 reinsurance programmes at a reduced cost and under improved terms. The programmes are incorporated into one reinsurance structure and includes traditional reinsurance, collateralized reinsurance, coverage by the Florida Hurricane ... Read the full article

Reinsurance rate declines accelerated at June renewal: JLT Re

2nd June 2017

The pace of decline across pricing and rate in the reinsurance market accelerated at the June 1st 2017 renewal, according to broker JLT Re, with rates down as much as 10% in places, and averaging a 5% decline. It's not the news reinsurers were looking for, but the excess levels of ... Read the full article

Hurricane season to bring additional challenges to U.S. P/C industry: Fitch

1st June 2017

The U.S. property & casualty insurance industry is strongly capitalised and has the capacity to withstand what's expected to be an active hurricane season ahead despite the continued challenges of competitive pricing, said Fitch Ratings' in its 2017 hurricane season report. The agency cautioned, however, that a major catastrophic hurricane could be hard-hitting ... Read the full article

Positive signs as loss-hit U.S. renewals experience rate increases

12th April 2017

There are some positive signs that help to reinforce the view that the reinsurance market is largely nearing the bottom of the pricing cycle, as some catastrophe loss hit U.S. nationwide property accounts experienced rate increases in April. Risk loss hit U.S. property reinsurance renewals in April 2017 experienced rate increases ... Read the full article

Japanese reinsurance renewals see broader coverage, lower rates

7th April 2017

According to reinsurance broker Willis Re, Japanese reinsurance renewals saw an expansion of coverage achieved by many ceding companies, and rates continued to decline in the region. The April 1st reinsurance renewals see a significant proportion of Japanese property insurance and property catastrophe reinsurance renewed and in 2017 market forces continued ... Read the full article

Rate reductions continue at April reinsurance renewal: Willis Re

3rd April 2017

Reinsurance rates have continued to decline at the April renewals, according to broker Willis Re, and while the rate of decline continues to be minimal there are market forces at work which will likely see them persist further into the year. The talk of last year's mid-year June and July renewals, ... Read the full article

Global insurance rate declines moderated in Q4: Marsh

16th February 2017

Marsh has released its Global Insurance Market Index for the fourth-quarter of 2016, showing insurance rates continued to moderately decline on average across all major, global business lines. Global property insurance rates provided the exception to the trend of more moderate declines, falling by 4.2% in Q4, this compares to a decrease of 3.9% ... Read the full article

Reinsurance price declines to continue into 2018, benefiting insurers

13th February 2017

Reinsurance prices are forecast as likely to continue declining at similar rates to those seen at the recent January renewals into 2018, with the result being an ongoing opportunity for insurers to benefit from cheaper risk capital. That's the view of analysts at Canaccord Genuity, who highlight the benefits that lower ... Read the full article

Reinsurance demand growth seen in North America: Hannover Re

10th February 2017

Hannover Re has underscored North America as one of its major target markets for the coming year after the U.S.’s economic recovery has raised demand for reinsurance protection. The reinsurance giant said its total premium volume for North America rose by 6.5 percent, an attractive margin of increase, especially when compared ... Read the full article

SCOR finds U.S. reinsurance growth at 1/1

7th February 2017

French reinsurance company SCOR found opportunities for premium growth at the January 1st 2017 renewals, with the U.S. driving much of its increase despite that market being the most under pressure. SCOR has been targeting expansion into the U.S. over recent reinsurance renewals, with the way it has historically diversified its ... Read the full article

Hannover Re increases profit guidance for 2017 to €1bn+

2nd February 2017

Reinsurance giant Hannover Re has raised its profit guidance for 2017 from over €950 million to more than €1 billion ($1.1bn),  after a strong round of treaty renewals at the key January 1st 2017 renewal season. The German domiciled reinsurer noted a continuation of the challenging operating landscape at the recent ... Read the full article

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