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.

Rate increases at 1/1 renewals to vary by loss experience: KBW

20th December 2019

Analysts at Keefe, Bruyette & Woods (KBW) are expecting rate changes at the 2020 property catastrophe reinsurance renewals to vary significantly, based on the loss experience of individual lines. At January 1, KBW is anticipating the largest increases on retrocessional cover, owing to recent large losses and the significant amount of ... Read the full article

Tremor helps W. R. Berkley secure $600mn capacity for property cat renewal

10th December 2019

Tremor, the programmatic insurance and reinsurance risk transfer marketplace, has helped W. R. Berkley to price and place the renewal of its 2020 Property Catastrophe Program, securing $600 million of capacity from more than 50 reinsurers. The marketplace process enabled reinsurers to log in and submit blind sealed bids over a ... Read the full article

“Unexciting” rate movements forecast for 1/1 renewals: analysts

9th December 2019

Analysts at JMP Securities are forecasting “unexciting” rate increases at the January re/insurance renewals, with more notable improvements likely to be seen later in the year during the April and June/July renewals. While the property and casualty (P&C) market does appear to be improving in all areas, it is doing so ... Read the full article

Average premium renewal rates up in November for most lines: IVANS

6th December 2019

The November results of the IVANS Index, a division of Applied Systems, shows that year-over-year, all lines of business, with the exception of Workers' Compensation, experienced an increase in average premium renewal rate. Month-over-month, November experienced varying premium renewal rate change across most Commercial Lines products, with rises seen in General ... Read the full article

Pricing power to challenge reinsurers in 2020, says Deutsche Bank

4th December 2019

While pricing has picked up over the past couple of years, Deutsche Bank analysts argue that the level of increases post-major events is not as large as it might have been several years ago and remains a challenge for reinsurers going into 2020. While an oversupply of capacity and the resulting ... Read the full article

SCOR renews €300mn catastrophe & mortality contingent capital facility

4th December 2019

Global reinsurance giant SCOR has announced the launch of a new three-year, €300 million contingent capital facility, providing the firm with protection against extreme natural catastrophes or life events impacting mortality. The facility takes the form of a contingent equity line, and is the fourth launched by SCOR, replacing as of ... Read the full article

Industry survey reveals expectation of heightened reinsurance use

21st November 2019

The large majority of respondents to our second annual reinsurance market survey, in collaboration with sister-site Artemis, expect to purchase roughly the same or a little more reinsurance protection at the upcoming renewals. The 2019 edition of the global reinsurance market survey features responses from hundreds of ... Read the full article

FEMA commences procurement of 2020 NFIP reinsurance renewal

19th November 2019

The U.S. Federal Emergency Management Agency (FEMA) has started its procurement process for the renewal of a flood reinsurance programme, designed to protect against flood risks in the U.S. that are insured by the National Flood Insurance Program (NFIP). FEMA has returned to the traditional market for its NFIP reinsurance program ... Read the full article

Property market still hardening, set to persist through 2020: WTW

18th November 2019

Pricing conditions in the property re/insurance market have continued to harden over and above baseline predictions, with rate increases set to persist through 2020, according to broker Willis Towers Watson (WTW). The current “micro-hard market” has produced pricing increases of between 50% and 100%, according to WTW’s numbers, with some challenged ... Read the full article

P&C pricing momentum unlikely to result in hard market, says Fitch

14th November 2019

While favourable pricing trends in the US property and casualty (P&C) market have been gaining some momentum this year, analysts at Fitch Ratings do not believe these increases are likely to cause a return to hard market conditions. Competitive forces and less favourable claims trends in some key segments make it ... Read the full article

Willis Towers Watson sees “biggest upward price shift in years”

13th November 2019

Global insurance and reinsurance brokerage, Willis Towers Watson (WTW) expects 19 lines of business to see price increases in 2020 in what the firm describes as the "biggest upward price shift in years." The broker has released its 2020 Insurance Marketplace Realities report, which concludes that North American commercial insurance buyers ... Read the full article

Reinsurance industry CEOs frustrated at pricing environment

11th November 2019

Insurance and reinsurance industry Chief Executive Officers (CEOs) have expressed frustration at the reinsurance pricing environment and have highlighted a reliance on primary rate increases. This is according to CEOs who spoke at the 2019 Bermuda Reinsurance Conference hosted by S&P Global Ratings last week. The event took place over November ... Read the full article

Opportunity at Jan renewals better than a year ago, says Lancashire CEO

8th November 2019

As positive rate momentum continues across virtually all lines of business, the Group Chief Executive Officer (CEO) of Lancashire Holdings Limited, Alex Maloney, is confident that the opportunity at the upcoming January renewals is better than what it was a year ago. The underwriting environment is "transitioning to the harder stage ... Read the full article

Everest increasingly optimistic as market dislocation creates opportunity

6th November 2019

The global re/insurance industry would have hoped for a chance to regroup in 2019 following the volume of losses over the previous two years, but instead, further losses have driven additional market dislocation, which in turn creates opportunity, according to John Doucette, EVP, President and Chief Executive Officer (CEO) of ... Read the full article

Global reinsurance market survey results show positive price expectation

4th November 2019

For the second year running we’ve collaborated with our ILS focused sister-site Artemis to conduct a survey designed to take the temperature of the global reinsurance market. This year’s survey included responses from hundreds of identifiable market participants, including numerous company CEOs and senior decision makers. Overall, approximately 72% ... Read the full article

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