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.
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
Swiss Re to push for better pricing in wake of nine month loss
2nd November 2017
Reinsurance giant Swiss Re is hoping that pricing conditions will improve in both property & casualty reinsurance and its commercial insurance arm in wake of recent catastrophe losses, which drove the firm to a net loss of $468 million for the first nine months of 2017. Swiss Re suffered most in ... Read the full article
Retro market to drive top-down rate changes at 1/1, says Validus execs
1st November 2017
The re/insurance industry's heavy reliance on retrocessional capacity will drive a top-down market change for rates across affected business lines, with traditional reinsurers and primary players pushing for rate increases as retro pricing jumps sharply at January renewals, according to Validus Holdings' executives. "As we have described to you in the ... Read the full article
P&C sector rate increases could raise earnings by ~6.29%, says Morgan Stanley
31st October 2017
Analysts at Morgan Stanley estimate that rate increases of between 1% to 5% across the P&C sector, as a result of record levels of catastrophe losses experienced in the third-quarter, could raise earnings by an average of 6.29%. Insured catastrophe losses in the third-quarter are expected to total around $100 billion, ... Read the full article
Market at the start of a “firming price environment,” says Chubb’s Greenberg
27th October 2017
Evan Greenberg, the Chairman and Chief Executive Officer (CEO) of global re/insurer Chubb, believes insurance and reinsurance markets are at the start of a firming price environment, after years of a softened market state. Chubb announced third-quarter 2017 after-tax catastrophe losses of $1.525 billion, which drove the firm to a net ... Read the full article
Market turn evident after “dramatic & different” hurricane season: XL execs
25th October 2017
The dynamics of the global insurance and reinsurance market, combined with the devastating impacts of catastrophe events in the third-quarter, suggests rate improvements are on the horizon, according to XL Group executives Mike McGavick, and Greg Hendrick. Insurer and reinsurer XL Group announced a net operating loss of more than $1 ... Read the full article
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