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.
RenaissanceRe sees the potential to raise new third-party reinsurance capital for the June 1st renewals, as its view of the market particularly in retrocession suggests profitable opportunities will be available, CEO Kevin O'Donnell explained recently.O'Donnell expects growth to come from the collateralized reinsurance and retrocession vehicle Upsilon, which RenaissanceRe (RenRe) read the full article →
Reinsurance pricing for catastrophic events should take into account the impact that recently enacted legislative reforms in Florida will have, although right now just how much they will reduce loss and loss adjustment costs in the state remains to be seen.Rating agency Demotech, Inc. calls for the reforms to be read the full article →
The impact of recent hurricane losses and their outsized loss creep, as well as market dynamics of supply and demand, have all served to shift the balance of power from reinsurance buyers to reinsurance sellers at this June renewal in Florida, Kevin O'Donnell CEO of RenaissanceRe explained recently.The Florida reinsurance read the full article →
The upcoming Florida reinsurance renewals on June 1st are set to be challenging and late. Quoting has been slow to start, while both cedants and capacity try to gauge market dynamics, but the expectation remains that prices are certainly set to rise.Insurance and reinsurance giant AIG is among those convinced read the full article →
Hannover Re grew its gross premiums underwritten by an impressive 19.2% in the first-quarter of the year and targets further "significant" growth in P&C reinsurance this year, in a market that is sees as stable or even "modestly better."However, the market remains "intensely competitive" Hannover Re noted, hence selective underwriting read the full article →
Results announced this morning by global reinsurance firm SCOR confirm the loss creep trend we're expecting to see from Japanese typhoons Jebi and Trami, as the company revealed a EUR 53 million hit to profits.Yesterday, Bermudian insurance and reinsurance firm AXIS Capital revealed a $30 million Japan typhoon loss creep read the full article →
While pricing at the June reinsurance renewals of all-important Florida underwriting business fell short of expectations a year ago, in 2019 market sentiment remains on the positive side, with analysts suggesting that this time around it might be different.Following reports of early renewals pricing up at firm order terms and read the full article →
French reinsurance giant SCOR has expanded its underwriting of catastrophe reinsurance treaties in Japan and elsewhere during the April renewals, growing premiums underwritten at SCOR Global P&C by almost 10%.SCOR said that it saw and benefitted from "broadly improving market conditions" at the April reinsurance renewals, while it said that read the full article →
Capital and capacity is expected to be in abundance at the upcoming mid-year reinsurance renewals, but the management of it is expected to be more conservative, which could help to hold up rates, analysts suggest.The expectation of an abundance of reinsurance capital from analysts at Keefe, Bruyette & Woods (KBW) read the full article →
Typhoon Jebi has already become the loss creep story of 2019 so far, but it's set to become an even higher profile case as a rising industry loss estimate for the storm means it's now expected that a number of industry loss warranty (ILW) contracts will payout.We understand that one read the full article →