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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Cat bond & ILS hard market may be coming to an end: Lane Financial

There is evidence that the hard market in catastrophe bonds and insurance-linked securities (ILS) may be coming to an end, as data suggests that softening may finally have begun and could continue if 2021 remains loss free, according to consultancy Lane Financial LLC. ILS focused consultancy Lane Financial LLC has been read the full article →

Cat exposed US property hammered with large increases in Q1: MarketScout

Catastrophe exposed property insurance rates in the United States rose significantly again in the first-quarter of 2021, continuing the trend seen through last year, according to MarketScout. The final quarter of 2020 saw property insurance rates surging in catastrophe exposed zones, led by hurricane exposed property in Florida and wildfire exposed read the full article →

ILS investor demand moderated April renewal pricing: Willis Re

Strong demand from insurance-linked securities (ILS) investors, in particular for publicly traded catastrophe bonds, helped to moderate overall reinsurance renewal price increases at April 1st, according to Willis Re. The reinsurance broker detailed the April reinsurance renewal pricing environment last week, saying that renewal market conditions followed the trends seen in read the full article →

April reinsurance renewals follow trend, as pricing remains firm: Willis Re

As anticipated, the April 1st 2021 reinsurance renewals followed the trends set earlier in the year, with pricing generally firm despite adequate capacity levels, according to the latest 1st View report from broker Willis Re. The April reinsurance renewals were 'orderly" according to the reinsurance broker and seemingly buyers were able read the full article →

Reinsurance rates to see low single digit rise at April renewal: Analysts

Reinsurance rates at the April 1st 2021 renewals are expected to reflect a continued improvement in pricing dynamics, as the shift in risk perception among reinsurers continues to be the dominant factor, according to analysts at Morgan Stanley. In essence, a continuation of the trends seen at the January renewals is read the full article →

SCOR Investment Partners and Coriolis’ combined ILS assets pass $2.5bn

SCOR Investment Partners, the asset management company of the global reinsurance group SCOR, continued to benefit from new capital inflows to its insurance-linked securities (ILS) fund strategies through 2020, with its combined ILS assets including London-based Coriolis now surpassing $2.5 billion. Overall, SCOR Investment Partners, the SCOR reinsurance group’s asset manager, read the full article →

Hiscox ILS fees rise on improved fund performance in 2020

Hiscox ILS, the insurance-linked securities (ILS) and collateralised reinsurance underwriting unit of specialist underwriter Hiscox Group, has reported a rise in fee income earned from its ILS investment management business in 2020. Hiscox's ILS funds saw their assets under management decline slightly to $1.4 billion at the end of 2020, down read the full article →

Fundamental shift in reinsurers’ views of risk to drive rates: Morgan Stanley

Heightened and ongoing uncertainty facing the reinsurance sector and the fact reinsurers have responded by shifting their views of risk is set to drive further rate increases and should make the gains already secured more sustainable, according to analysts at Morgan Stanley. With the April 1st reinsurance renewals looming and thoughts read the full article →

ILS market COVID-19 losses “kicked down the road”, AM Best warns

The fact cedents allowed insurance-linked securities (ILS) capital to be rolled over into reinsurance renewals rather than trapping it for potential losses from the pandemic, for the ILS market "amounts to kicking the can down the road for COVID-19-related losses," according to AM Best. The rating agency warns that this could read the full article →

Trapped collateral concerns overblown at 1/1, but COVID discussions continue

At the recent January 1st 2021 reinsurance renewals, the expectations for significant impairment to some insurance-linked securities (ILS) strategies because of trapped collateral due to exposure to the COVID-19 pandemic proved overblown. As the end of 2020 approached, some were forecasting that a significant amount of insurance-linked securities (ILS) capital could read the full article →