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.


Jebi shows ILW triggers are better when official & supported

The rising insurance and reinsurance industry loss from 2018's typhoon Jebi in Japan has caused what some are privately terming chaos in the industry-loss warranty (ILW) market, as two widely used but unofficial trigger data sources still show estimates at below $10 billion.Industry loss warranties (ILW's) are relatively simple risk read the full article →

Expect more re/insurance & ILS convergence through M&A: S&P

Mergers and acquisitions (M&A) activity is expected to continue driving greater convergence of traditional insurance and reinsurance with the insurance-linked securities (ILS) market, S&P Global Ratings expects.With conditions in reinsurance in general remaining a little pressured, in terms of earnings, while capital remains abundant, S&P believes that structural changes in read the full article →

Everest Re cedes more premiums, fewer losses to Mt. Logan Re

The amount of losses that insurance and reinsurance group Everest Re ceded to its Mt. Logan Re Ltd. collateralized reinsurance sidecar-like vehicle have almost halved so far in 2019.Reflecting the continued recovery from the major catastrophe losses of 2017 and 2018, Bermuda headquartered Everest Re has not needed to pass read the full article →

AIG buys new property reinsurance treaties, plus aggregate retro via Validus

Global insurance and reinsurance carrier American International Group, Inc. (AIG) continued to bulk up its reinsurance protection in the second-quarter of the year, adding two new property treaties and an aggregate retro arrangement through Validus.Speaking during the carriers earnings call just now, AIG's CEO of General Insurance Peter Zaffino explained read the full article →

Reinsurer cat exposure up, retro flat, says S&P. Capital dynamics evolving?

Some global reinsurance players have been increasing their exposure to catastrophe risks, taking advantage of higher premium rates available, but there hasn't been a noticeable uptick in retrocession buying as a result, according to S&P Global Ratings.Reinsurance firms have in some cases "chosen to stop retrenching" leading to a divergence read the full article →

Hannover Re gets “long overdue price increases”, Jebi creep dents P&C

German headquartered global reinsurance player Hannover Re has reported yet another quarter of expansive premium growth, but the firms results were dented by continuing loss creep from typhoon Jebi, as well as weakness on the life & health side.Hannover Re reported 17.1% growth in gross premiums (14.5% at constant exchange read the full article →

Everest Re adds aggregate retro, Doucette calls Mt. Logan Re “core”

Everest Re sees its Mt. Logan Re Ltd. collateralized reinsurance sidecar like vehicle as a core piece of the firm's strategic catastrophe risk management, but the company is not looking to grow Mt. Logan Re just for the sake of growing, according to John Doucette.Everest Re has a multi-capital approach read the full article →

ILS backed reinsurance in Florida as secure as traditional: Demotech

In assessing the stability and security of the Florida insurance market as well as those companies providing reinsurance capacity to it, Demotech, Inc. said all insurers are seen as stable, with a few undertaking business model changes, while the reinsurance capital providers are all viewed as secure, including numerous backed read the full article →

Universal’s prior year loss creep passed on to reinsurers in Q2

Universal Insurance Holdings reinsurance capital providers helped the company in Q2 2019 by taking the majority of its prior year loss creep off its hands, with just over $97.3 million of gross prior year development ceded.The insurer reported that its gross prior year development amounted to $98 million in the read the full article →

Hiscox names McConnell as U.S. CUO, shuffles Hiscox Re & ILS leadership

Hiscox has revealed a number of senior changes in underwriting and operations, as experienced lead underwriter Megan McConnell has been named Chief Underwriting Officer in the U.S. and is set to relocate to New York.McConnell was most recently the Director of Underwriting for Hiscox Re & ILS, the unit of read the full article →