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.
Reinsurance rate increases are expected to accelerate at the all-important January 2020 contract renewals, as well as and perhaps even more so at April 1st, following the impacts of recent Japanese typhoons and hurricane Dorian this year, A.M. Best says.The rating agency believes that these losses could be sufficient to read the full article →
Higher reinsurance pricing is seen as essential by Hannover Re and the firm sees a chance of rates increasing in Germany for all-important natural catastrophe risks, something that would be welcomed by the broader market and ILS capital providers.European catastrophe reinsurance rates have dwindled over the last decade, falling to read the full article →
An early estimate suggests that Japanese typhoon Hagibis could eventually drive in excess of $10 billion of insurance and reinsurance industry losses, which when added to the other recent typhoon Faxai could see the 2019 typhoon season leaving a larger dent in the industry than 2018's Jebi and Trami combined.It read the full article →
The assessment and quantification of insurance and reinsurance market losses after typhoon Hagibis is to be complex and likely prolonged as a result, but there is a chance of some performance impact to private collateralised reinsurance deals, according to ILS investment manager Twelve Capital.Specialist ILS and reinsurance fund manager Twelve read the full article →
The eventual industry loss from typhoon Hagibis could reach the level seen with the other recent Japanese typhoon Faxai, while together the losses they bring to the industry may be enough to accelerate reinsurance rate rises in April 2020, according to KBW analysts.Typhoon Hagibis made landfall in Honshu, Japan on read the full article →
Insurance-linked securities (ILS) are integral to the business of insurance and reinsurance and an ideal solution for bringing capital to the big problems facing society, according to RenaissanceRe CEO Kevin O'Donnell.Giving a keynote speech at the ILS Bermuda Convergence 2019 conference today, the CEO of Bermuda headquartered global reinsurance firm read the full article →
Catastrophe bond and ILS rates-on-line, as measured by a synthetic Index, declined by 7% in the third-quarter of 2019, falling back to levels seen at the beginning of the year, but at the same time ILS remains in hard market territory, the latest data from Lane Financial LLC shows.In fact, read the full article →
U.S. property and casualty insurers continued to benefit from increasing rates in the third-quarter of 2019, as property insurance rates across homeowners and commercial lines of business rose by 4% or more during the period.In particular catastrophe exposed lines of property business saw some of the steepest rate rises, according read the full article →
The reinsurance market has faced a fundamental gap between the softening of prices and actual loss experience over the last decade, a gap that has now begun to close but needs to narrow further, according to Torsten Jeworrek of Munich Re.The board member of the major global reinsurance firm believes read the full article →
Speaking to Artemis from the SCOR lounge in Monte Carlo, Jean-Paul Conoscente, chief executive of SCOR Global P&C, outlined the company’s ambitious plans to place ILS at the heart of the business.He said the reinsurers remained “nimble”, giving the reinsurer the ability to innovate.SCOR’s latest strategic plan – Quantum Leap read the full article →