The FY2023 reporting season concluded in Q1 and saw many companies reporting some of the best reinsurance underwriting conditions in over 20 years, according to Gallagher Re.
Tag: reinsurance capacity
Reinsurance Market Grappling with Cat Losses, Capital Unwinding: Swiss Re
In a challenging market environment, the reinsurance industry is grappling with significant hurdles as catastrophe losses surge and the reliance on external capital becomes increasingly vulnerable.
Swiss Re: Cost to Provide Reinsurance Capacity Could Rise in 2023
Rising claims inflation, compounded by reinsurance capacity demand-supply mismatch in a rising interest rate environment, could contribute to an increase in the cost of providing insurance capacity in 2023 and beyond.
Carriers Face Challenging Reinsurance Market
Insurers are currently in negotiations with reinsurers, who are attempting to raise rates by 10% to 30%.
Munich Re Posts 3Q Profit Despite Hurricane Ian Losses
Munich Re reported profits for the third quarter despite an increase in major losses in P&C reinsurance due to Hurricane Ian.
Risk Strategies Warns of Capacity Shortage at January Renewals
Due to an expected shortage of reinsurance capacity, Risk Strategies recommends clients get ahead of January 1 renewals.
AM Best: Reinsurers Shifting Business Away from Property to Casualty and Specialty Lines
According to a new AM Best report, insurers are shifting their business mix away from property and toward casualty and specialty lines due to uncertainty. “Although casualty and specialty lines are not immune from accumulation risk, as seen in major events such as the pandemic or the Ukraine invasion, they are considered to be more… Continue reading AM Best: Reinsurers Shifting Business Away from Property to Casualty and Specialty Lines
Markel International Announces Renewables Reinsurance Partnership with AEGIS
Markel International and Associated Electric and Gas Insurance Services (AEGIS) have formed a partnership to provide additional reinsurance capacity for onshore renewable energy projects. Markel International will provide up to $75 million in capacity behind AEGIS for its policyholders’ renewable risks under the terms of the agreement. Markel’s reinsurance support will also enable AEGIS to… Continue reading Markel International Announces Renewables Reinsurance Partnership with AEGIS
January Reinsurance Renewals Reflect Healthy But Evolving Market
January 1 renewals, according to Guy Carpenter, reflected a healthy but evolving market as reinsurers adjusted risk appetite and pricing thresholds for certain sectors in response to ongoing and emerging challenges. Despite this, the majority of placements were ultimately orderly once cedents’ terms were issued, as market participants effectively traded through a dynamic environment.… Continue reading January Reinsurance Renewals Reflect Healthy But Evolving Market
Reinsurance Hard Market Pricing Attracts Capital
Reinsurance market dynamics including increased pricing, years of accumulating catastrophic losses, investment market losses and the significant losses expected from the fallout of the coronavirus pandemic have led to reinsurers’ push for further price increases, Fitch Ratings says. The environment has attracted increased capital as a result, with the potential for double-digit price increases to… Continue reading Reinsurance Hard Market Pricing Attracts Capital