Pricing and profitability in reinsurance remains uninspiring following the January 1st renewals, but that doesn't stop some larger players from soaking up business at inadequate prices, according to rating agency A.M. Best.We've discussed the fact that major reinsurers are underwriting diversifying regions, or regions they want to remain dominant in, read the full article →
Reinsurance renewals news
Reinsurance renewals news and articles. Discussing the trajectory of reinsurance pricing and rates, as well as the flow of reinsurance capital at key market renewal seasons where many reinsurance programs are renewed and new reinsurance and retrocession capital and capacity is deployed.
The reinsurance cycle follows a number of key renewal seasons and the news and analysis below covers these important reinsurance market renewals.
The key reinsurance renewal periods are at January 1st, April 1st, June 1st and July 1st.
The January renewals have a particular focus on European programs, Asia Pacific (ex. Japan), casualty and specialty risks. The mid-year reinsurance renewals see a particular focus on U.S. property catastrophe reinsurance renewals, with Florida a particular focus in June. Japanese reinsurance program renewals are a major focus at April 1st.
There is "rather more uncertainty over alternative capital's role" in reinsurance and retrocession markets through the rest of 2019, according to Torsten Jerrowek of Munich Re, but the ILS market is expected to remain a "big and important" player in its key markets.Speaking yesterday morning during an analysts presentation, Jeworrek, read the full article →
French reinsurance giant SCOR has added roughly 10% in premium volume to its P&C reinsurance renewal book at January the 1st, with most of the growth seen in the United States.The reinsurer expects that a firm market will prevail throughout 2019, with the potential for hardening of loss affected contracts read the full article →
Global reinsurance firm Munich Re has reported that it found conditions at the key January 2019 renewals to be sufficiently attractive to underwrite a portfolio 6.3% larger than the prior year, despite pricing reported as flat.Munich Re reports that pricing was absolutely flat across its reinsurance renewal book at 1/1 read the full article →
Specialist insurance-linked securities (ILS) and reinsurance investment manager Twelve Capital said that there are "clear signs of momentum" in the ILS market, as pricing responds to the losses of the last two years.Giving its outlook for 2019, Twelve Capital notes that pricing has responded at the reinsurance renewals and also read the full article →
Equity analysts believe that the reinsurance price cycle is lifting itself clear of the bottom of the market, thanks to a number of factors related to losses, profitability and excess capital.However the questions that have to be asked are, how high does the cycle need to lift itself in order read the full article →
Hannover Re, one of the largest global reinsurance firms, displayed its appetite for growth at the key January 1st renewal season, achieving substantial growth in terms of premiums underwritten, even though price increases were only seen as slight overall.The major reinsurance companies including Hannover Re have all bemoaned the state read the full article →
RenaissanceRe CEO Kevin O'Donnell said that reinsurance and retrocession rate increases secured by his firm at the key January renewals were higher than the reports of a largely flat market suggested.The January renewals were seen as largely flat, with pockets of rate increases for loss impacted accounts and regions, as read the full article →
Insurance and reinsurance market loss estimates for catastrophes and severe weather that struck Japan in 2018 continue to creep upwards, leading some analysts to suggest that the April renewal could prove a needed catalyst for pricing.As the January renewal again failed to deliver on the price increases many had hoped read the full article →
The much-discussed slowdown in insurance-linked securities (ILS) capital and collateralized reinsurance or retrocession capacity growth of recent months is expected to be merely a temporary blip, according to some of the rating agencies.The ILS market has been more cautious about reloading for the recent January renewals and so far in read the full article →