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.

Neutral outlook for European reinsurers, pricing momentum to firm: Deutsche Bank

22nd June 2018

Hannover Re, Swiss Re, Munich Re and SCOR all experienced weaker-than-expected January/April renewals despite an impact of more than $100 billion from natural catastrophes in 2017, according to Deutsche Bank. Deutsche Bank's outlook has subsequently turned more cautious towards European reinsurance, taking a neutral stance from its previous positive view in ... Read the full article

2017 losses unmasked broader reinsurance price inadequacy: KBW

20th June 2018

The major hurricane and catastrophe losses of 2017 while not sufficient to significantly boost property catastrophe reinsurance rates, have unmasked the inadequacy of pricing more broadly across the sector, according to analysts. Reinsurance pricing did respond to the losses of 2017, but increases seen at the key January reinsurance renewals ... Read the full article

Most U.S commercial lines’ premium rates trending positively: IVANS

12th June 2018

The premium renewal rates for a majority of major U.S commercial product lines are trending positively, according to new data for the month of May, compiled by IVANS, a division of Applied Systems. IVANS Index results for May showed that the only major lines to experience a downturn in their premium ... Read the full article

Oxbridge Re successfully renews reinsurance contracts

8th June 2018

Oxbridge Re Holdings Limited has reported that its wholly-owned subsidiary, Oxbridge Reinsurance Limited, has successfully placed its reinsurance contracts for the treaty year of June 1, 2018 to May 31, 2019. The successful placement sees Oxbridge’s subsidiary deploy all of its capacity into renewal contracts for clients at June 1. Jay Madhu, ... Read the full article

Reinsurance price levels at risk of declining in 2019: Deutsche Bank

7th June 2018

Following meetings with large European reinsurers, analysts at Deutsche Bank have warned that the current pricing dynamics in the industry will result in a muted pricing effect through 2018 with the risk of rates declining in 2019. During Deutsche Bank's 2018 Global Financials Conference, global reinsurers suggested a need to scale ... Read the full article

Disappointing Florida renewals only justified if hurricane season is benign, warns Peel Hunt

5th June 2018

After reported, disappointing reinsurance rate increases of 1.2% at the Florida June property catastrophe renewals, analysts at Peel Hunt have said that increases at these levels can only be justified if the 2018 hurricane season proves to be benign. Following years of falling rates as a result of benign loss activity ... Read the full article

More modest-sized losses will do little to change market, says JMP Securities

4th June 2018

Despite 2017 catastrophe events resulting in one of the costliest years on record for insurers and reinsurers, the highly competitive and overcapitalised state of the market resulted in muted change, with a true tail event needed to potentially bring about more meaningful change, reports JMP Securities. Forecasters and experts are calling ... Read the full article

Negligible rate increases at June 1st, Florida RoL Index up just 1.2%: JLT Re

1st June 2018

Reinsurance broker JLT Re has said that rate increases achieved at the key June 1st 2018 reinsurance renewals were negligible, as the firms Risk-Adjusted Florida Property-Catastrophe Rate-on-Line (ROL) Index rose by only 1.2%. JLT Re's research found that only low single-digit reinsurance rate increases were seen at the June 1st 2018 ... Read the full article

Federated National completes 2018-19 catastrophe reinsurance programme

31st May 2018

Federated National Holding Company (FNHC) has completed its excess of loss catastrophe reinsurance programme for 2018-19, which will provide FNHC and its wholly-owned insurance subsidiaries, Federated National Insurance Company (FNIC) and Monarch National Insurance Company (MNIC), with $1.34 billion of reinsurance coverage in excess of $23 million retention for catastrophic ... Read the full article

Universal’s P&C subsidiaries finalise 2018-19 reinsurance programmes

31st May 2018

Universal Insurance Holdings, Inc. has announced that its wholly owned subsidiaries, Universal Property & Casualty Insurance Company (UPCIC) and American Platinum Property and Casualty Insurance Company (APPCIC), have completed their 2018-19 reinsurance programmes. Private participants in the reinsurance programmes include Nephila Capital (via Allianz Risk Transfer), Everest Re, RenaissanceRe, Chubb Tempest ... Read the full article

Lagging mid-year renewals points to “permanently” damaged business model: KBW

25th May 2018

In meetings with insurance and reinsurance market participants in Bermuda, analysts at Keefe, Bruyette & Woods (KBW) heard that mid-year catastrophe reinsurance rate increases are lagging those seen at the Jan renewals, suggesting the old business model is "permanently" damaged. The majority of reinsurers KBW spoke with confirmed that mid-year reinsurance ... Read the full article

Misalignment of expectations entering Asia-Pacific renewals: Aon Benfield’s Attard

25th May 2018

Chief Executive Officer (CEO) of Aon Benfield Asia, George Attard, has said entering Asia-Pacific renewals at 1/1 sparked a divergence of expectations between reinsurers and insurers, in relation to what pricing the former were looking for and what buyers were looking to pay. Speaking with A.M. BestTV at the 29th EAIC ... Read the full article

Munich Re expects tepid mid-year renewal, but targets U.S. expansion

24th May 2018

Reinsurance giant Munich Re is anticipating a tepid rate environment at the mid-year 2018 reinsurance renewals, but is targeting further growth into the United States market, where its share remains below its global average. Like many other firms Munich Re's expectations for the mid-year June 1 and July 1 reinsurance renewals ... Read the full article

Florida Hurricane Catastrophe Fund targets $1 billion of reinsurance for 2018

22nd May 2018

After evaluating improved market conditions, the Florida Hurricane Catastrophe Fund (FHCF) is looking to secure $1 billion of reinsurance protection at the mid-year renewals, at a preliminary attachment point of $10.5 billion. Following the impacts of hurricane Irma in 2017, it appears the FHCF is looking to adjust its financing for ... Read the full article

Flat mid-year renewal possible despite volatile 2017: JMP Securities

21st May 2018

The condition of the property catastrophe reinsurance market following 2017 catastrophe events and the January and April renewals, suggests a flat mid-year renewals season is not out of the question and that average pricing will be up a few points at best, JMP Securities says. Following two days of meetings in ... Read the full article