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.
French reinsurance group SCOR is not expecting any issues in placing its retrocession program this year and is already in active discussions with its lead markets as it continues to work towards an optimal placement, its senior executives said today.
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Positive rate momentum and the re-examining of terms and conditions (T&Cs) is expected to continue at the key January 2021 reinsurance renewals and beyond, while ongoing uncertainty surrounding another year of trapped capital will have an influence, according to industry experts.
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Insurance-linked securities (ILS) and alternative reinsurance capital are set to continue growing as a piece of the global risk transfer market, as investor appeal for their relatively uncorrelated returns persists, according to Guy Carpenter executives.
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The reinsurance renewals in 2021 are set to be “decisive” for the alternative reinsurance capital and insurance-linked securities (ILS) market, in determining whether returns can sustain higher levels to encourage greater investor participation, Fitch Ratings suggested in a new report.
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According to a survey of property and casualty reinsurance buyers undertaken by rating agency Moody’s Investors Service, the consensus is that pricing will rise by at least 5% at the 2021 renewals, making their coverage more expensive.
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SCOR Investment Partners, the asset management company of the global reinsurance group SCOR, has raised fresh capital for its insurance-linked securities (ILS) strategies in the first-half of 2020, lifting its ILS assets managed to $2.4 billion.
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The traditional and alternative capital sides of the global reinsurance market both declined by around 3% in the first-half of 2020, according to the latest data from broker Willis Re.
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Having struggled with sector results over the last three years, the global reinsurance sector is going to fail to earn its cost of capital in 2020, according to rating agency Standard & Poor’s.
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French reinsurance company SCOR is the latest to forecast a prolonged period of rate hardening across the reinsurance marketplace, saying that it expects prices to rises to be “significant, generalized and long-lasting.”
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Rating agency Moody’s Investors Service has changed its outlook on the global reinsurance sector to negative, saying that despite rising prices “2020 is shaping up to be another disappointing year.”
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