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.

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

Reinsurance execs optimistic about upcoming rate increases

14th November 2017

Amidst industry-wide speculation on the impact the heavy Q3 losses will have on global reinsurance pricing, 46% of 2017 Bermuda Reinsurance Conference attendees believe a pricing upturn will be solely reflected in U.S. markets, while 30% said they expect to see some spill-over into other parts of the world. In light ... Read the full article

Global reinsurance pricing set to turn, be more precise

13th November 2017

Panelists at the 2017 Bermuda Reinsurance Conference said that with Hurricanes Harvey, Irma, and Maria as well as the Mexico City earthquake creating what increasingly appears to be a capital event for the global reinsurance industry - pricing may have finally reached a turning point. "Either way, the industry may be evolving ... Read the full article

Tokio Marine Kiln CEO sees “exciting” rating environment in 2018

10th November 2017

Charles Franks, Chief Executive Officer (CEO) of Tokio Marine Kiln, predicts an "exciting" rating environment in 2018 in response to third-quarter catastrophe events, while the company's Lloyd's Syndicates continue to show improvements. "The outlook for the rating environment is very exciting. For the first time in years, we are seeing prices showing ... Read the full article

Reinsurers’ hopes for substantial rate increases could be dashed

10th November 2017

Reinsurers hopes for substantial price increases in the global reinsurance market in the aftermath of recent catastrophes could be dashed as the capital surplus waiting to enter the market could rebalance the scale against downwards pricing pressure. Research analysts who spoke on a panel at the 2017 Bermuda Reinsurance Conference contradicted ... Read the full article

Buyers market at a tipping point: Lockton

8th November 2017

The buyers market conditions in insurance and reinsurance may come to an end, as it faces a tipping point in the wake of recent major catastrophe loss activity, according to broking group Lockton. The impacts of hurricanes Harvey, Irma and Maria, as well as earthquakes and wildfires, all point towards the ... Read the full article

Hiscox sees rate increases of up to 50%; lowers HIM loss estimate

7th November 2017

Global insurer and reinsurer, Hiscox, has lowered its loss estimate for hurricanes Harvey, Irma, and Maria, and says the events have led to rate increases of between 10% and 50%, and sometimes more, in loss-affected and loss-exposed U.S. property lines. With third-quarter catastrophe events estimated to have cost the industry $100 ... Read the full article

Premature to forecast post-catastrophe rate rises: JLT

7th November 2017

Insurance and reinsurance broker JLT Group said this morning that it is "premature to draw conclusions" as to how much re/insurance rates may rise following the spate of recent catastrophe losses. The brokerage said that due to the timing of both insurance and reinsurance renewals, the impacts of catastrophes including hurricanes ... Read the full article

Reinsurance pricing to return to 2015 levels: Analysts

2nd November 2017

Re/insurance market analysts expect pricing in the reinsurance sector to improve to levels seen in 2015, resulting in higher 2018/2019 profit estimates and improved combined ratios for Europe's big four, on the back of one of the costliest quarters on record for global natural catastrophe losses. Citing recent comments from reinsurer ... Read the full article

Lancashire to take advantage of more positive 2018 as market shifts

2nd November 2017

On the back of a very challenging third-quarter for reinsurers, Lancashire Holdings expects to take advantage of a return to more disciplined underwriting practices and improved pricing that reflects true risks and exposures. Like numerous insurers and reinsurers, Lancashire reported a loss for the third-quarter of 2017, as the combined impacts ... Read the full article