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.
Global property cat prices to increase by 10% at 2018 renewals: Credit Suisse
24th October 2017
Industry experts have so far concurred that the re/insurance industry's estimated $100 billion in aggregate Q3 losses won't lead to a bottoming out of the current pricing cycle, however, global property catastrophe excess of loss pricing is forecast by Credit Suisse to increase by 10% at 2018 renewals, a price ... Read the full article
Global reinsurers target U.S. property cat rate rises
24th October 2017
The largest global reinsurance players are set to target any U.S. property reinsurance rate increases following the impacts of recent hurricanes and catastrophe losses on the sector. In recent years, the big four European reinsurers and their global counterparts have been seen to pull-back from U.S. property catastrophe exposed lines of ... Read the full article
Rate increases at 1/1, Q3 losses a capital event for reinsurance sector: S&P
16th October 2017
Third-quarter 2017 catastrophe losses are likely to erode the reinsurance sector's earnings and become a capital event for the space, resulting in rate increases of up to 5% at 1/1, according to rating agency Standard & Poor's (S&P). Global reinsurers have started to release loss estimates for the third-quarter of 2017, ... Read the full article
UK motor reinsurance renewal prices could stabilise on Ogden revision
26th September 2017
According to rating agency A.M. Best, revisions to the reform of the law governing the personal injury discount rate, or Ogden Rate as it is known, in England and Wales are likely to result in more stable motor reinsurance renewal pricing in January. It had been expected that January 2018 renewals ... Read the full article
Irma and Harvey will drive uncertainty at renewals: Munich Re’s Jeworrek
11th September 2017
In the middle of the 2017 hurricane season weather conditions are causing high intensity storms and hurricanes to form in the Atlantic basin, and with the industry still waiting for the tally from Harvey and now Irma, reinsurers will have to go into renewals under a cloud of "uncertainty." Speaking at ... Read the full article
Swiss Re expects price stabilisation after recent loss events
11th September 2017
Reinsurance giant Swiss Re said this morning that it expects the impacts of recent catastrophe losses will be sufficient to stabilise reinsurance industry pricing. The company said that it intends to maintain its underwriting discipline, in the face of continuing pressures from low interest rates and excess capital in the sector. The ... Read the full article
P&C price reductions of up to 5% expected at Jan 18 renewals: Moody’s
6th September 2017
Persistent headwinds in the global reinsurance sector are expected to continue throughout 2017 and into next year, with Moody's suggesting that the January 2018 property and casualty (P&C) reinsurance renewals will see further softening across most business lines. Price declines in the reinsurance sector have slowed in more recent times, a ... Read the full article
Reinsurance pricing to deteriorate throughout 2018, warns Fitch
6th September 2017
Pricing in the global reinsurance sector will continue declining throughout 2018 as competition from alternative sources of reinsurance capacity intensifies and margins across the sector deteriorate further, according to analysis by Fitch Ratings. The current low-interest rate environment is expected to remain, dampening returns on the investment side of the balance ... Read the full article
Reinsurers’ evolution must continue as challenges & uncertainty persists: A.M. Best
5th September 2017
The global reinsurance sector remains extremely challenging with limited opportunity for organic growth and declining profitability on both sides of the balance sheet, which, suggests reinsurers will need to continue adapting and evolving to the changing landscape, according to A.M. Best. Despite the widespread impact of hurricane Harvey, which is yet ... Read the full article
U.S. reinsurers’ combined ratio edges closer to 100% in H1 2017, loss ratio rises
24th August 2017
Analysis on the performance of 18 reinsurance companies during the first-half of 2017, by the Reinsurance Association of America (RAA), highlights further deterioration of combined ratios and rising loss ratios. The group of 18 U.S.-based property/casualty reinsurers recorded a combined ratio of 97.1% in the first-half of 2017, compared with 94.8% ... Read the full article
Fitch maintains negative reinsurance outlook, warns of further price deterioration
22nd August 2017
Fitch Ratings has maintained its negative outlook for the reinsurance sector as mid-year 2017 results show continued pressure on pricing and earnings. Ample capacity and intense competition remains an issue for the global reinsurance sector, and Fitch expects pricing to weaken further in the months ahead. Despite the abundance of capacity and ... Read the full article
Continued softening & expansion of terms in energy re/insurance
3rd August 2017
The energy insurance and reinsurance sector has witnessed continued softening of prices and expansion of terms and conditions at recent renewals, helping protection buyers to more positive dealings with risk transfer partners, according to JLT Group’s Lloyd & Partners unit. The offshore and onshore energy insurance market has softened rapidly, nearing ... Read the full article
Demand for casualty reinsurance increases at mid-year renewals: Willis Re
20th July 2017
Commenting on trends in the casualty market after the 2017 mid-year renewals, Willis Re said demand for reinsurance is increasing as the cyber market expands and global demand is stimulated by pending regulation in the European Union (EU) and Australia. As underlying cyber coverage expands with first party exposures, reinsurers appear ... Read the full article
Persistent reinsurance market headwinds impacting all territories
18th July 2017
Global property reinsurance rates continued to decline throughout most territories at the mid-year renewals season, driven by a lack of catastrophe losses, excess capacity and ongoing market pressures, according to reinsurance broker Willis Re. In the UK and the U.S. excess capacity, from both traditional and alternative sources, continues to combine with ... Read the full article
Florida market pressured at mid-year as players push for 2017 targets: Willis Re
17th July 2017
The mid-year renewals season saw continued softening of pricing in Florida with stable market demand, but pressure on traditional players is growing as they make a final push for 2017 premium targets, but are squeezed into a tighter space by greater alternative capital influx. John Cavanagh, Global Chief Executive Officer (CEO) of Willis ... Read the full article
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