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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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 →

Swiss Re uses more third-party capital to back nat cat expansion

Global reinsurance giant Swiss Re has returned more meaningfully to the capital markets and insurance-linked securities (ILS) in 2019, reported by the firm as a "significantly increased use of third party capital" used to back what looks like significant growth in catastrophe exposures underwritten.An expanded reinsurance business was one of read the full article →

Swiss Re expansive in P&C Re, creep & CorSo reserve charge dent results

Global reinsurance firm Swiss Re has reported an expansive year-to-date in its core property & casualty reinsurance operations, with premiums rising 23%, but its results have been dented by loss creep from typhoon Jebi and a large reserve charge for Corporate Solutions.Helping to offset those dents to its first-half 2019 read the full article →

Hiscox Re & ILS sees building price momentum, but capacity dampening rates

In reporting its results today, insurance and reinsurance firm Hiscox Group explained that rate momentum continues to build and price increases have been accelerating at renewals so far in 2019, while its Hiscox Re & ILS unit continues to find attractive opportunities in retrocession.But while rates have been increasing and read the full article →

Kingstone buys $603m catastrophe reinsurance treaty at renewal

P&C insurance firm Kingstone Companies, Inc. has renewed its reinsurance treaties, including a cornerstone $603 million catastrophe excess of loss reinsurance arrangement that is backed by 53 reinsurers and 35% larger than the prior year treaty.The reinsurance coverage is to protect the portfolios of Kingstone Insurance Company and the insurer read the full article →

RenRe took advantage of CATCo retro capacity pull-back: CEO, O’Donnell

RenaissanceRe deployed more capacity into retrocession again at the recent mid-year reinsurance renewals, managing to provide continuity to some protection buyers that were missing the availability of Markel CATCo's retro product.As the Markel CATCo Investment Management team did not deploy any fresh capacity through its pillared retrocession product at the read the full article →

SCOR continues franchise expansion, rate increases accelerate in Q2

SCOR is the first of the global reinsurance majors to report its results for the second-quarter and first-half of 2019 and CEO Dennis Kessler highlights the ongoing expansion of the SCOR franchise, while the data suggests rate increases accelerated for the firm in Q2.SCOR has continued to expand on its read the full article →

RenRe adds $700m+ third-party capital, earns bumper fee income in Q2

RenaissanceRe said that it raised over $700 million of new third-party capital from investors for its joint-venture and insurance-linked securities (ILS) vehicles in the second-quarter of 2019.At the same time, the Bermudian reinsurance firm also reported a bumper quarter of third-party capital related fee income, as the expanded size of read the full article →