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.
Announcing its quarterly and half-year results this morning, global reinsurance giant Swiss Re has shown the effects of improved market conditions, with its P&C reinsurance arm delivering stronger results thanks to lower catastrophe impact and higher margins.
Read the full article
Speaking today during the Markel second-quarter earnings call, Jeremy Noble, President of Insurance explained that the team at insurance-linked securities (ILS) fund manager Nephila Capital are working hard to make the most of the attractive reinsurance pricing environment.
Read the full article
According to the CFO of specialty re/insurer AXIS Capital, the company decided not to renew a catastrophe bond this year and he said he feels better as a result, as doing so removed some of the basis risk from AXIS’ reinsurance arrangements.
Read the full article
At the end of the second-quarter of 2023, assets under management at Nephila Capital, one of the largest insurance-linked securities (ILS) fund management operations in the market, were stable at $7.2 billion and its parent Markel Group reported that revenues from entities managed by Nephila rose slightly in the quarter.
Read the full article
Speaking during the second-quarter earnings call for insurance giant AIG, the insurers’ CEO Peter Zaffino explained that the company took steps to bulk up its hurricane reinsurance and retrocessional protection in advance of the wind season beginning.
Read the full article
At the mid-year renewals, US primary insurance giant Allstate has shrunk its Florida reinsurance tower, and shifted all of its catastrophe bond coverage to the upper-layers of it.
Read the full article
Overall, the global reinsurance market is now less dislocated than it was at the beginning of the year, analysts at Peel Hunt believe, but with a supply-demand imbalance still in evidence, they say that pent-up insurer demand for cover could emerge at the January 2024 renewal season.
Read the full article
In the current hard reinsurance market environment, even the very largest cedents with the best track-records now have increased retentions. Case in point being Chubb, as its global property catastrophe reinsurance retention has risen at its latest renewal.
Read the full article
Commercial property insurance rates continue to rise around the world, with insurers having a heightened sensitivity to catastrophe exposure in 2023, data from broker Marsh’s latest report shows.
Read the full article
Global reinsurer SCOR has reported strong property and casualty reinsurance renewals at the middle of the year, citing a goal to optimise value creation and technical returns across its portfolio.
Read the full article
