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.

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Reinsurers unimpressed on rates so far, forecast acceleration into 2020

Major reinsurance firms are unimpressed with the way rates have responded to recent catastrophe loss years so far, but with another set of losses in Japan they hope for the frustrations to give way to more positive pricing momentum in 2020.Speaking at S&P Global Ratings 2019 Bermuda Reinsurance Conference last read the full article →

Global reinsurance market survey results show ILS usage to rise

Artemis and Reinsurance News have partnered again to conduct our second global reinsurance market survey. The 2019 edition reveals an expectation for more pronounced and more broad price momentum at the key January 1st renewals, while use of insurance-linked securities (ILS) is once again expected to rise.The results of our read the full article →

Hiscox grows reinsurance & ILS book, but says capacity holding back rates

Insurance and reinsurance company Hiscox Group has expanded its reinsurance and insurance-linked securities (ILS) portfolio at its Hiscox Re & ILS unit so far in 2019, but still believes that the weight of capacity in the market is preventing more widespread price increases from occurring.Echoing its sentiment from earlier this read the full article →

Alternative capital resurgence could dampen rate momentum: Fitch

Rating agency Fitch warns that a resurgence of alternative capital is to be expected and that this, alongside the growing traditional reinsurance capital base, could begin to pressure rates and dent ambitions for more prolonged market firming.After the losses of recent years the expectation for firmer reinsurance and retrocession rates read the full article →

Swiss Re may cede more risk to sidecar Sector Re: CFO Dacey

Global reinsurance firm Swiss Re is watching for potential opportunities in the retrocession market as this segment reacts to repeated losses and issues with trapped collateral, that the reinsurer believes may attract investors to work more closely with it.Swiss Re already cedes a portion of its property catastrophe risks to read the full article →

RenRe suffers underwriting loss, delivers more capital to third-party investors

Bermudian reinsurance firm RenaissanceRe reported an underwriting loss for the third-quarter of 2019 on the back of the impacts of hurricane Dorian and typhoon Jebi, but at the same time has returned significantly more capital to its third-party investors.Analysts blame the outsized return of capital to so-called noncontrolling interests as read the full article →

Assurant expects $46m Q3 cat loss, pre-tax & after reinsurance

U.S. specialty insurance group Assurant has said that it is expecting hurricane Dorian to drive the bulk of an expected $46 million of pre-tax and after reinsurance catastrophe losses for the third-quarter of 2019.Assurant said yesterday that hurricane Dorian is expected to drive roughly 70% of its catastrophe losses for read the full article →

Hagibis flood loss alone could reach $10bn, retro ILS most at risk: Twelve Capital

Industry losses from the flood driven damage of typhoon Hagibis could reach into the double-digit billion dollar range, according to ILS manager Twelve Capital, who also highlighted that in the ILS market it is collateralised retrocession that appears most at risk of performance impacts.Specialist ILS and reinsurance fund manager Twelve read the full article →

At up to $16bn, Hagibis industry loss to drive rates, with creep possible: KBW

Typhoon Hagibis loss impact on insurance, reinsurance and insurance-linked securities (ILS) markets is likely to drive further rate improvements at upcoming renewals, but the market should watch out for potential loss creep, analysts at KBW warn.After AIR Worldwide issued its first modelled industry loss estimate for typhoon Hagibis yesterday, saying read the full article →

Typhoon Hagibis industry loss estimated from $8bn to $16bn: AIR

Typhoon Hagibis is estimated as likely to cause an insurance and reinsurance market loss somewhere in a range from $8 billion to as much as $16 billion, by AIR Worldwide.The significant size of that range reflects the significant uncertainty in the eventual industry toll from the most recent typhoon to read the full article →