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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Firmer than expected reinsurance rates can hold: Berenberg

Reinsurance market pricing is firming up slightly more than had been expected, while reinsurance market forces also suggest that the rate rises seen so far can hold, according to Berenberg's analysts.The persistence or otherwise of any rate gains achieved at the reinsurance renewals so far in 2019 are a hot read the full article →

Reinsurance well-capitalised despite lack of ILS inflows, retro not so much

The global reinsurance sector remains very well-capitalised as the 2019 Atlantic hurricane season begins and this is despite the fact the insurance-linked securities (ILS) market did not attract significant fresh inflows, according to Moody's.The rating agency said that it believes the rated reinsurers it covers have solid capital positions to read the full article →

HCI secures near $1.5bn catastrophe reinsurance limit for 2019/20

Florida headquartered property and casualty insurer and parent of Homeowners Choice Property & Casualty Insurance Company, Inc., HCI Group, Inc., has secured a catastrophe reinsurance tower that provides it with almost $1.5 billion of limit on a first and second event basis.At the reinsurance renewal HCI Group has continued with read the full article →

Rate increases unlikely to stick without above-average losses: Goldman Sachs

Reinsurance rate increases secured so far in 2019 are unlikely to persist through to the June 2020 renewals unless we see another above-average catastrophe loss year in 2019, analysts at Goldman Sachs believe.Reinsurance rate rises achieved this June won't prove sticky without further natural catastrophe losses affecting the United States, read the full article →

United (UPC) takes catastrophe reinsurance program to $4bn at renewal

Changes made to its reinsurance program tower have allowed United Insurance Holdings (UPC Insurance) to take its total catastrophe reinsurance limit to a new high of $4 billion, while also providing better cascading, multi-year and quota share protection.Executives of the Florida headquartered primary insurer United (UPC) said previously that the read the full article →

Florida reinsurance gains up to 30% rate traction at renewal: Morgan Stanley

Florida property catastrophe reinsurance pricing has seen increases of as much as 30% at the June 1st renewals, however the results varied widely dependent on performance of ceding company programs in prior years, according to analysts at Morgan Stanley.At the top-end of catastrophe reinsurance price increases seen in Florida are read the full article →

Heritage hails reinsurance cost savings, but 90% FHCF likely the driver

Heritage Insurance Holdings, Inc., the Florida headquartered, nationally expanding U.S. property casualty insurer, has completed its reinsurance renewal and hails a saving made, however any reduction in cost is likely been achieved by increasing its FHCF participation to the 90% level.Heritage said it has completed its catastrophe reinsurance program placement read the full article →

Palomar expands cat reinsurance, adds quota share & XoL program cover as well

Speciality California-based catastrophe exposed property insurer Palomar Insurance Holdings added $200 million to the top of its catastrophe reinsurance tower and added new quota share and excess-of-loss coverage for its specialty homeowners programs at the June renewals.The insurer, which recently completed a public listing to raise new funds for its read the full article →

Renewal rate increases seen in mid-teens at June 1st: KBW analysts

Rate increases at the all-important June 1st reinsurance renewals are expected to average in the mid-teens, with retrocession set to see even higher increases as capacity remains constrained in that marketplace, according to Keefe, Bruyette & Woods (KBW) analysts.Having visited Bermuda this week to discuss the state of the reinsurance read the full article →

Universal grows reinsurance tower at renewal, with help of Nephila & ILS capital

Universal Insurance Holdings, the Florida headquartered and expansive primary insurance provider, has completed what it said was a time consuming reinsurance renewal, with ILS capital featuring heavily as usual.Universal has been a significant user of alternative reinsurance capital from insurance-linked securities (ILS) funds and other collateralized sources over the years.For read the full article →