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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.

Swiss Re optimistic on long-term pricing prospects, says Ojeisekhoba

5th April 2019

Swiss Re is optimistic about its own long-term pricing prospects, as well as those of the wider reinsurance industry, despite the persistence of challenging market conditions. This is according to Moses Ojeisekhoba, CEO of Reinsurance at Swiss Re, who told Reinsurance News that the company was confident the competitive low-rate environment ... Read the full article

Japan renewals were orderly with stable reinsurer capacity: Willis Re

2nd April 2019

The April renewals in Japan were orderly despite the level of catastrophe losses in 2018, with reinsurance capacity remaining stable, according to broker Willis Re, the reinsurance arm of broker Willis Towers Watson. Buyers sought increased capacity, both on an aggregate basis and for earthquake occurrence, analysts observed in Willis Re’s ... Read the full article

AXA to further reduce earnings volatility with increased use of reinsurance: Analysts

2nd April 2019

Following its acquisition of XL Group last year, global insurer AXA has been de-risking its catastrophe exposure, a trend that J.P. Morgan analysts expect to continue in 2019, with the help of alternative reinsurance capital. During last year, AXA and XL Group ceded increased volumes of catastrophe exposure to reinsurance and ... Read the full article

Swiss Re to see 10% rate increases at April renewals: Deutsche Bank

1st April 2019

Analysts at Deutsche Bank are anticipating that Swiss Re will have experienced price increases of around 10% at the April renewals, due to the reinsurer’s high exposure to Japanese catastrophe events in 2018. The firm believes that Swiss Re was the most affected among European reinsurers by losses from Asia/Japan, which should ... Read the full article

Strong capitalisation underpins rational pricing approach at April 1: Willis Re

1st April 2019

Willis Re, the reinsurance arm of global insurance and reinsurance broker Willis Towers Watson, has noted that reinsurers adopted a rational pricing approach at the April 1st renewals, underpinned by high levels of market capitalisation from both traditional and alternative sources. The reinsurance broker's latest 1st View report examines the April ... Read the full article

Corporates expect reinsurance rate rises of up to 5%: Survey

26th March 2019

Corporates in the property/casualty (P&C) and reinsurance space anticipate reinsurance rates to be flat to up 5%, with loss affected accounts expected to see the highest rate rises. An anonymous survey of corporates by The Buckingham Research Group reveals an expectation of mid-single digit reinsurance rate increases, with 67% of respondents ... Read the full article

Upward pressure on Lloyd’s rates despite loss of momentum: Peel Hunt

25th March 2019

Analysts at Peel Hunt believe there remains upward pressure on re/insurance rates in the Lloyd’s market in 2019 despite an apparent loss of momentum since the first half of 2018. The firm noted that rates were fairly flat at the January renewals, which were dominated by Europe, but expects the upcoming ... Read the full article

The opportunity to show pricing discipline has arrived: Hiscox Re’s Szakmary

21st March 2019

With the reinsurance industry now having taken time to reflect on the catastrophe losses of the previous two years and re-evaluate where the baseline for rate adequacy lies, the opportunity has arrived for participants to work together and show pricing discipline. This is according to Adam Szakmary, Director of Underwriting – ... Read the full article

Loss hit P&C insurance rates in Asia to increase by at least 10% in 2019: WTW

20th March 2019

Willis Towers Watson (WTW), the global insurance and reinsurance brokerage, expects large catastrophe loss-affected property and casualty (P&C) insurance rates in Asia to increase by at least 10% through 2019. The international broker has released its 2019 Asia insurance market report, which includes key insurance rate predictions for the current year. Looking ... Read the full article

Re/insurers to benefit from specialty & investment tailwinds: Peel Hunt

18th March 2019

Rising specialty insurance rates and higher investment income due to an increase in U.S interest rates are expected to provide a welcome tailwind to the re/insurance industry in 2019, according to analysts at Peel Hunt. The firm also anticipates a stable reinsurance market ahead of the Japan and U.S renewals in ... Read the full article

Experts cautiously optimistic on April & mid-year renewals: AIFA

8th March 2019

Experts are generally expressing cautious optimism about the prospects for reinsurance rate increases at the upcoming April and mid-year renewals, according to analysts attending the Association of Insurance and Financial Analyst (AIFA) Conference this week. The Buckingham Research Group noted that there was meaningful optimism on the upcoming renewals despite some ... Read the full article

90% FHCF participation will have a “positive impact on reinsurance pricing,” Heritage CEO

5th March 2019

Heritage Insurance Holdings, Inc. has doubled its Florida Hurricane Catastrophe Fund (FHCF) participation to 90%, a move the insurer expects others to follow and one that is likely to have a very positive impact on reinsurance pricing, according to Chairman and Chief Executive Officer (CEO), Bruce Lucas. Speaking during the Florida ... Read the full article

Skuld’s growth continues in spite of challenging P&I market

1st March 2019

Marine insurer Skuld experienced a positive renewals with 4.3% net increases in mutual Protection & Indemnity (P&I) gross tonnage year-on-year, from 2018 to 2019, which, includes committed tonnage for delivery through 2019. Finalised on February 20th, 2019, Skuld's committed mutual P&I tonnage now stands at 95 million gross tonnes, as the ... Read the full article

Expect Floridian insurers to report loss reserve strengthening: Demotech

28th February 2019

Analysts at regional and specialty insurer-focused financial analysis firm, Demotech, Inc., expect Floridian property insurers' 2018 results to include further loss and loss adjustment expense reserve hardening. At the same time, the firm warns that regardless of any changes to the cost of catastrophe reinsurance protection, it will not relax its ... Read the full article

Rate increases at April renewals to vary widely by product & client: JMP

27th February 2019

JMP Securities is anticipating significant reinsurance pricing increases at the upcoming April 1 renewals, with increases varying by as much as 5-30% depending on product and client. After meeting with re/insurers in Japan ahead of the renewals, analysts at JMP expect average rate increases to push into the double digits, but ... Read the full article

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