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.
Key reinsurance renewals occur at: the 1st of January, which is the biggest renewal of the reinsurance year and has a broader global focus; April 1st when Japanese reinsurance renews; June 1st for Florida reinsurance renewals; and July 1st when more US reinsurance business gets renewed.
Our reinsurance renewals news covers all of these key points in the year and we also provide analysis and insight into what to expect at upcoming renewal seasons as well.
Total reinsurance capital up almost 3% to $534bn in 2021: Guy Carpenter
4th January 2022
Total dedicated reinsurance capital increased by 2.8% from the end of 2020 to end 2021 at $534 billion, driven by growth in both traditional and alternative capital, according to reinsurance broker Guy Carpenter and ratings agency, AM. Best. The almost 3% growth in dedicated reinsurance capital from the $519 billion reported ... Read the full article
Mixed outcomes for reinsurers at “challenging” Jan 1 renewals: Gallagher Re
4th January 2022
Analysts at Gallagher Re have reported that the January 1 reinsurance renewals concluded with a “wide range of outcomes” as a push for improved pricing resulted in a tense round of negotiations. The broker noted that most reinsurers were determined to seek further price increases at 1/1 after hopes of a ... Read the full article
January renewals reflect “healthy but bifurcated” reinsurance market: Guy Carpenter
3rd January 2022
The January 1st 2022 reinsurance renewal season saw conditions that reflect a "healthy but bifurcated" reinsurance market, according to global broking firm Guy Carpenter. The reinsurance market is evolving, Guy Carpenter says, evidenced by reinsurers adjusting their risk appetites and pricing thresholds for certain sectors, as they respond to ongoing and ... Read the full article
H2 catastrophe activity may drive stronger reinsurance pricing at Jan 1, says S&P
30th December 2021
With insurance and reinsurance industry losses from catastrophe events once again above the $100 billion mark in 2021, price increases at the key January 1st, 2022 renewals could be stronger than in previous years, according to S&P Global Ratings. In recent years, price momentum at 1/1 has disappointed reinsurers amid heightened ... Read the full article
Intl. Group of P&I Clubs secures more costly reinsurance programme for 2022
22nd December 2021
The International Group Pooling and GXL Reinsurance contract for 2022 has now been finalised, with the Group agreeing to pay more in premiums to secure the renewal of its 2022 reinsurance programme. The increase in reinsurance spend comes amid hardening market conditions and the deterioration in the Group's claims record with ... Read the full article
Execs see positives in late renewals as market discipline persists: KBW
14th December 2021
After recent meetings with insurance and reinsurance company executives, analysts at KBW have highlighted how the late January 1st, 2022, renewals season could be positive. According to one executive, the late reinsurance renewal season is positive as in general, brokers look to place highest-quality accounts first in order to set the ... Read the full article
1/1 renewals “very late” as reinsurers maintain discipline: KBW
10th December 2021
Analysts at KBW have reported that 1/1 renewal negotiations for property and casualty (P&C) business are running “very late” as reinsurers have managed to remain disciplined on pricing in the lead-up. After meeting with several reinsurance company executives in Bermuda, KBW analysts are anticipating “solid rate increases overall” for P&C business ... Read the full article
AM Best maintains stable outlook on global reinsurance amid positive pricing momentum
8th December 2021
Heightened demand for protection, continued positive price momentum and a disciplined underwriting environment has seen ratings agency A.M. Best maintain its stable outlook on the global reinsurance industry. AM Best's latest reinsurance market segment report highlights some positive and negative factors for the sector as the new year edges closer. Underpinning the ... Read the full article
Double-digit rise in property cat reinsurance rates for 2022, Fitch says
7th December 2021
Fitch Ratings analysts forsee double-digit premium rate rises for property catastrophe cover in 2022, following an insured loss total of close to $100 billion in 2021 and the prospect of natural catastrophe claims increasing in frequency and severity. In fact, reinsurance rates across catastrophe-related lines of business are expected to rise ... Read the full article
Buyers plan to use more reinsurance & ILS next year, survey shows
3rd December 2021
Data from the latest Reinsurance News market survey, undertaken in collaboration with our sister-site Artemis, shows that protection buyers are planning to purchase more reinsurance and retrocession next year, in addition to utilizing more ILS backed capacity. The survey looked at responses from hundreds of identifiable market participants, of which more ... Read the full article
Re/insurance pricing undergoing “period of dislocation”: HX’s Flandro
29th November 2021
David Flandro, Managing Director at HX Analytics, has said that the re/insurance market is “clearly going through a period of dislocation” when it comes to pricing, with multiple factors set to influence trends at the upcoming 2022 renewals. Speaking as part of HX’s re/insurer earnings review for Q3, Flandro noted that ... Read the full article
Reinsurance pricing expectations high across lines, survey shows
26th November 2021
Data from the latest Reinsurance News market survey, undertaken in collaboration with our sister-site Artemis, shows that market participants overall are expecting price rises across all business lines next year, with loss-affected lines in particular forecast for large increases. The survey looked at responses from hundreds of identifiable market ... Read the full article
Reinsurers could step back from secondary perils next year: Peel Hunt
25th November 2021
Analysts at Peel Hunt have speculated that the reinsurance industry may step back and lower its exposure to secondary perils next year, leaving primary insurers to take on more of the risks. As the renewal season progresses, Peel Hunt notes that reinsurers will currently be reassessing their property catastrophe risk appetite ... Read the full article
Re/insurers shift focus as renewal activity stalls, say analysts
24th November 2021
As insurers and reinsurers shift focus ahead of the key January 1st, 2022 renewals, there's uncertainties around the property catastrophe space while activity for 1/1 is reportedly behind schedule, according to Morgan Stanley. Analysts at Morgan Stanley recently hosted the firm's insurance corporate access day, which featured nine property and casualty ... Read the full article
Reinsurers eager to diversify amid uninspiring COP26 outcome, say analysts
16th November 2021
Some re/insurers are expected to retreat from the property catastrophe space in 2022 as the elevated frequency and severity of secondary perils adds pressure to margins, leading to greater diversification towards other classes of business, reports Peel Hunt. Despite several years of rate increases, a notable rise in losses from secondary ... Read the full article
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