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.


US winter storm loss creep likely to be prolonged: Aon

The complexities surrounding the development of an ultimate of insurance and reinsurance market losses from the recent US winter storm event are set to be significant, with broker Aon warning to expect a prolonged period of loss creep. Currently, estimates for the insurance and reinsurance market loss range from low double-digit read the full article →

Florida Citizens to seek $850m of cat bonds before 2021 hurricane season

Florida’s Citizens Property Insurance Corporation is targeting a $2.6 billion reinsurance and risk transfer program in advance of the 2021 hurricane season beginning and within the renewed towers could be $850 million of new catastrophe bonds. Florida Citizens has been growing at an unsustainable rate, which its Chairman previously said makes read the full article →

RenaissanceRe Capital Partners formed with Parry as Global Head

RenaissanceRe, the Bermuda-based reinsurance firm and third-party capital management specialist, has announced a rebranding of its Ventures business as RenaissanceRe Capital Partners, with Chris Parry taking the lead role as its Global Head. Ventures had been the unit under which RenaissanceRe's (RenRe) third-party capital, joint venture and insurance-linked securities (ILS) investment read the full article →

Winter storm losses seen a driver for mid-year reinsurance firming: KBW

Industry losses from recent winter storm activity in the United States are seen as another driver for more firming of reinsurance prices at the key mid-year renewals, according to analysts at Keefe, Bruyette & Woods. KBW's analyst team attended the recent Association of Insurance and Financial Analysts (AIFA) conference and came read the full article →

Hiscox ILS funds AuM slides to $1.4bn, but growth targeted for Hiscox Re & ILS

Hiscox Group, the specialist insurance or reinsurance underwriter and ILS capital manager, says its reinsurance and insurance-linked securities (ILS) unit Hiscox Re & ILS is seeing the best market conditions in at least five years, with an expectation of a return to growth. CEO Bronek Masojada commented this morning, "In 2021, read the full article →

RSA cuts GVC aggregate reinsurance, balancing cost vs protection

RSA Group, the UK based insurance group, has cut its main Group Volatility Cover, an aggregate reinsurance protection, as it balanced cost against the protection it offered at the January 2021 reinsurance renewals. RSA has cut the Group Volatility Cover (GVC) reinsurance tower by one-quarter, only electing to place it to read the full article →

AXA lowers US hurricane, quake & aggregate reinsurance retentions at renewal

Global insurance and reinsurance group AXA has reduced its exposure to peak U.S. natural catastrophe events at the January 2021 renewals, lowering its retention for major hurricanes and earthquakes by one-third and its aggregate tower retention as well. AXA and in particular AXA XL, the commercial property & casualty insurance and read the full article →

AXA XL saw reinsurance renewal price increases rise 50% YoY

AXA XL, the commercial property & casualty insurance and reinsurance arm of the AXA Group, saw a significant increase in prices at the January 2021 reinsurance renewals, compared to price increases a year earlier. In reporting the AXA Group results this morning, the France headquartered global insurance and reinsurance company provides read the full article →

Munich Re forecasts positive April & July renewals with growth opportunities

Global reinsurance giant Munich Re is bullish about the upcoming April and mid-year renewal seasons in 2021, forecasting a positive market environment and growth opportunities as it reported its 2020 results this morning. The reinsurance firm has posted €1.2 billion of profit for 2020 despite significant losses suffered due to the read the full article →

Reinsurance prices must rise further to provide adequate returns: Moody’s

The reinsurance market is not in a hard market and in fact rate increases seen at the January 2021 renewal season are only seen as adequate by Moody's, who believe that reinsurance prices must keep rising for adequate risk-adjusted returns to be achievable. The rating agency said that the January 2021 read the full article →