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.
2017 losses unmasked broader reinsurance price inadequacy: KBW
20th June 2018
The major hurricane and catastrophe losses of 2017 while not sufficient to significantly boost property catastrophe reinsurance rates, have unmasked the inadequacy of pricing more broadly across the sector, according to analysts. Reinsurance pricing did respond to the losses of 2017, but increases seen at the key January reinsurance renewals ... Read the full article
Most U.S commercial lines’ premium rates trending positively: IVANS
12th June 2018
The premium renewal rates for a majority of major U.S commercial product lines are trending positively, according to new data for the month of May, compiled by IVANS, a division of Applied Systems. IVANS Index results for May showed that the only major lines to experience a downturn in their premium ... Read the full article
Oxbridge Re successfully renews reinsurance contracts
8th June 2018
Oxbridge Re Holdings Limited has reported that its wholly-owned subsidiary, Oxbridge Reinsurance Limited, has successfully placed its reinsurance contracts for the treaty year of June 1, 2018 to May 31, 2019. The successful placement sees Oxbridge’s subsidiary deploy all of its capacity into renewal contracts for clients at June 1. Jay Madhu, ... Read the full article
Reinsurance price levels at risk of declining in 2019: Deutsche Bank
7th June 2018
Following meetings with large European reinsurers, analysts at Deutsche Bank have warned that the current pricing dynamics in the industry will result in a muted pricing effect through 2018 with the risk of rates declining in 2019. During Deutsche Bank's 2018 Global Financials Conference, global reinsurers suggested a need to scale ... Read the full article
Disappointing Florida renewals only justified if hurricane season is benign, warns Peel Hunt
5th June 2018
After reported, disappointing reinsurance rate increases of 1.2% at the Florida June property catastrophe renewals, analysts at Peel Hunt have said that increases at these levels can only be justified if the 2018 hurricane season proves to be benign. Following years of falling rates as a result of benign loss activity ... Read the full article
More modest-sized losses will do little to change market, says JMP Securities
4th June 2018
Despite 2017 catastrophe events resulting in one of the costliest years on record for insurers and reinsurers, the highly competitive and overcapitalised state of the market resulted in muted change, with a true tail event needed to potentially bring about more meaningful change, reports JMP Securities. Forecasters and experts are calling ... Read the full article
Negligible rate increases at June 1st, Florida RoL Index up just 1.2%: JLT Re
1st June 2018
Reinsurance broker JLT Re has said that rate increases achieved at the key June 1st 2018 reinsurance renewals were negligible, as the firms Risk-Adjusted Florida Property-Catastrophe Rate-on-Line (ROL) Index rose by only 1.2%. JLT Re's research found that only low single-digit reinsurance rate increases were seen at the June 1st 2018 ... Read the full article
Federated National completes 2018-19 catastrophe reinsurance programme
31st May 2018
Federated National Holding Company (FNHC) has completed its excess of loss catastrophe reinsurance programme for 2018-19, which will provide FNHC and its wholly-owned insurance subsidiaries, Federated National Insurance Company (FNIC) and Monarch National Insurance Company (MNIC), with $1.34 billion of reinsurance coverage in excess of $23 million retention for catastrophic ... Read the full article
Universal’s P&C subsidiaries finalise 2018-19 reinsurance programmes
31st May 2018
Universal Insurance Holdings, Inc. has announced that its wholly owned subsidiaries, Universal Property & Casualty Insurance Company (UPCIC) and American Platinum Property and Casualty Insurance Company (APPCIC), have completed their 2018-19 reinsurance programmes. Private participants in the reinsurance programmes include Nephila Capital (via Allianz Risk Transfer), Everest Re, RenaissanceRe, Chubb Tempest ... Read the full article
Lagging mid-year renewals points to “permanently” damaged business model: KBW
25th May 2018
In meetings with insurance and reinsurance market participants in Bermuda, analysts at Keefe, Bruyette & Woods (KBW) heard that mid-year catastrophe reinsurance rate increases are lagging those seen at the Jan renewals, suggesting the old business model is "permanently" damaged. The majority of reinsurers KBW spoke with confirmed that mid-year reinsurance ... Read the full article
Misalignment of expectations entering Asia-Pacific renewals: Aon Benfield’s Attard
25th May 2018
Chief Executive Officer (CEO) of Aon Benfield Asia, George Attard, has said entering Asia-Pacific renewals at 1/1 sparked a divergence of expectations between reinsurers and insurers, in relation to what pricing the former were looking for and what buyers were looking to pay. Speaking with A.M. BestTV at the 29th EAIC ... Read the full article
Munich Re expects tepid mid-year renewal, but targets U.S. expansion
24th May 2018
Reinsurance giant Munich Re is anticipating a tepid rate environment at the mid-year 2018 reinsurance renewals, but is targeting further growth into the United States market, where its share remains below its global average. Like many other firms Munich Re's expectations for the mid-year June 1 and July 1 reinsurance renewals ... Read the full article
Florida Hurricane Catastrophe Fund targets $1 billion of reinsurance for 2018
22nd May 2018
After evaluating improved market conditions, the Florida Hurricane Catastrophe Fund (FHCF) is looking to secure $1 billion of reinsurance protection at the mid-year renewals, at a preliminary attachment point of $10.5 billion. Following the impacts of hurricane Irma in 2017, it appears the FHCF is looking to adjust its financing for ... Read the full article
Flat mid-year renewal possible despite volatile 2017: JMP Securities
21st May 2018
The condition of the property catastrophe reinsurance market following 2017 catastrophe events and the January and April renewals, suggests a flat mid-year renewals season is not out of the question and that average pricing will be up a few points at best, JMP Securities says. Following two days of meetings in ... Read the full article
Reinsurance business model challenged, more M&A likely: Morgan Stanley
21st May 2018
The long-term business model of the reinsurance industry is being challenged by the inability of reinsurers to command pay-back following the losses of 2017, leading to a likelihood of more sector mergers & acquisitions, according to analysts from Morgan Stanley. Having visited Bermuda recently to meet with reinsurers, Morgan Stanley's analyst ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
