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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.

Pricing set to improve across UK specialty classes in 2019, say analysts

19th December 2018

Consecutive periods of above-average large losses are set to cause a positive reaction in pricing across a range of UK specialty classes in 2019, according to analysts at J.P. Morgan. The firm noted that 2018 saw a higher incidence of man-made losses, putting classes like Marine under additional pressure, while pricing ... Read the full article

KBW anticipating modest rate improvements at 1/1 renewals

18th December 2018

Analysts at Keefe, Bruyette & Woods (KBW) are expecting low single-digit increases in reinsurance pricing at the 1 January 2019 renewals due to the significant catastrophe losses experienced this year and some constraint on the supply of alternative capital. KBW acknowledged that the abundance of third-party capital in the property catastrophe ... Read the full article

European reinsurance pricing to continue improving through 2019: Barclays

18th December 2018

Reinsurance prices in the European market should continue to gradually improve throughout 2019 as demand goes up and capacity becomes more constrained, according to analysts at multinational investment bank Barclays. Barclays estimates that the reinsurance industry is set to incur around $70 billion in large loss claims this year, which is ... Read the full article

Alternative capital growth to further restrict pricing cycles: Swiss Re

14th December 2018

Alternative capital has matured into an integral player in the property catastrophe reinsurance and retrocession markets, but its continued growth is likely to further curb the volatility of the overall underwriting cycles, according to a report from the Swiss Re Institute. Over the last decade, the alternative capital market has become ... Read the full article

Demand for non-life reinsurance to increase in 2019: A.M. Best

11th December 2018

Demand for non-life reinsurance is expected to increase over 2019, according to A.M. Best, due primarily to factors such as the return of U.S economic growth, as well as global growth and benefits from the U.S federal tax reform. Analysts at A.M. Best believe these conditions will provide opportunities for organic ... Read the full article

QBE benefits from early reinsurance renewal as it restructures placement

11th December 2018

Australian and global primary insurance and reinsurance group QBE said it has benefited from favourable terms and better pricing by getting to market early with its 2019 reinsurance renewal. The insurer said that by hitting the market early it has been able to achieve lower pricing, avoiding any uptick in market ... Read the full article

Hard market not needed to fix AIG: Brian Duperreault

10th December 2018

The Chief Executive Officer (CEO) of global insurer and reinsurer American International Group (AIG), Brian Duperreault, has said that a hard market isn't required to fix the company. After reporting a third-quarter net loss, albeit improved on the same period in 2017, AIG's full-year 2018 performance will likely be closely watched ... Read the full article

Stable rates but January renewals to be highly competitive

6th December 2018

Noise from global reinsurance companies and alternative, or third-party capital participants suggests that every catastrophe renewal at January 1st 2019 is going to be highly competitive for a number of reasons, with rates expected to remain stable during the key renewals season. There's a feeling across the reinsurance and also insurance-linked ... Read the full article

PI premiums to rise as construction market hardens, warns JLT Specialty

3rd December 2018

JLT Specialty, the specialist insurance broker and risk consultant, has warned that contractors could face a significant increase in professional indemnity (PI) premiums as the construction market begins to harden. Greater regulatory scrutiny and uncertainty regarding cladding systems following the Grenfell fire has led many insurers to scale back on capacity ... Read the full article

Reinsurance sector struggling to keep pace with cost of capital: S&P

30th November 2018

With only modest pricing increases experienced over 2018 and momentum set to fade in 2019, the global reinsurance sector may find it increasingly difficult to keep pace with its cost of capital, according to S&P Global Ratings. The rating agency noted that last year the reinsurance sector generated returns on capital ... Read the full article

Everest Re optimistic about 2019 renewals, reports Goldman Sachs

30th November 2018

Global reinsurer Everest Re is optimistic about the pricing outlook for reinsurance renewals over 2019, anticipating rate increases across property catastrophe, specialty and casualty lines, according to analysts at Goldman Sachs. After a series of meetings with Everest Re’s management, including its CEO, CFO and presidents of the Reinsurance and Insurance ... Read the full article

Reinsurers to see localised rate increases over 2019: Goldman Sachs

26th November 2018

Although overall reinsurance pricing momentum overall is likely to slow going into 2019, Goldman Sachs expects to see localised rate increases in some areas that have experienced heavy catastrophe losses over 2018. In Japan, Goldman Sachs predicted that the $8 billion loss from Typhoon Jebi (with a $2 billion reinsurance attachment) ... Read the full article

Downstream energy sector to see turnaround after years of losses: WTW

23rd November 2018

Price increases in the downstream energy re/insurance sector are now inevitable after years of unprofitable returns and major losses, according to re/insurance broker Willis Towers Watson (WTW). The November 2018 edition of the firm’s Energy Market Review noted that 2017 was the second worst underwriting year on record for the sector ... Read the full article

Commercial insurance pricing continues to rise at Q3: Marsh

23rd November 2018

Average commercial insurance prices rose by just over 1% over the third quarter of 2018, marking the fourth consecutive quarter of pricing increases for the sector, according to the latest Global Insurance Market Index by re/insurance broker Marsh. The pricing trend has largely been driven by increases in property and financial ... Read the full article

Upstream energy sector remains profitable, but rate reductions unlikely: WTW

22nd November 2018

The upstream energy re/insurance sector looks set to continue its profitable trend in 2018, although insurers are reluctant to implement any further rate reductions as this fragile dynamic could be reversed by only a modest upturn in claims, according to re/insurance broker Willis Towers Watson (WTW). The November 2018 edition of ... Read the full article

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