Jean-Jacques Henchoz, CEO of global reinsurer Hannover Re, has suggested that the stable outlook for the P&C market is set to continue, given there are no significant new entrants in the space.
Tag: reinsurance market
Strong Recovery in Total Reinsurance Capital Countered by Surplus Distributions: AM Best
The global reinsurance industry demonstrated a significant recovery of prior-year capital losses in 2023, driven by strong technical results, unrealized capital gains and higher reinvestment rates, according to a new AM Best commentary.
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.
July Renewals See Attachment Levels & Costs Rise: Gallagher Re
According to Gallagher Re’s 1st View report, almost all buyers of protection were able to secure their reinsurance coverage at a July 1st, 2022, renewals shaped by economic factors that helped to sustain market hardening. Following the June 1st reinsurance renewals, all eyes turned to the later mid-year renewals in July, due to a decrease… Continue reading July Renewals See Attachment Levels & Costs Rise: Gallagher Re
Victor Enters Reinsurance Market with Acquisition of Regional Treaty Services Corporation
With the acquisition of Regional Treaty Services Corporation (RTSC), a privately held reinsurance MGU based in Newport, Rhode Island, Victor, a global managing general underwriter (MGU), has entered the reinsurance market. RTSC, founded in 2003, is a licensed reinsurance producer that acts as a managing general agent (MGA) for three reinsurance facilities for small to… Continue reading Victor Enters Reinsurance Market with Acquisition of Regional Treaty Services Corporation
January 2022 Reinsurance Renewals Mixed on Price Changes
At the January 2022 renewals, the reinsurance market provided a mixed picture. Only the lines of business with the highest losses in 2021 saw significant price increases. Loss-free lines of business attracted more capital, causing prices to remain stable or fall. Fitch Ratings expects risk-adjusted prices to rise by around 1% across all segments in… Continue reading January 2022 Reinsurance Renewals Mixed on Price Changes
Global Reinsurers Adjust as Traditional Risks Take on Unpredictable Patterns
Although the global reinsurance industry has been able to absorb the exceptional shock from the COVID-19 pandemic, perils that are becoming more complex and interrelated highlight the need for innovation to cover unmodeled risks as they emerge, and traditional risks as they evolve, according to a new AM Best special report. In its latest annual… Continue reading Global Reinsurers Adjust as Traditional Risks Take on Unpredictable Patterns
1:1 Renewal Season to See a Tightening Marketplace: Willis Re
Willis Re recently held a webinar in which Paddy Jago, Global Chair of Willis Re and Tony Melia, Chief Executive Officer of Willis Re International discussed the upcoming January renewal season and how things in the reinsurance market may develop. Jago commented: “We will experience further gradual firming from where we were at January last… Continue reading 1:1 Renewal Season to See a Tightening Marketplace: Willis Re
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
Lloyd’s Market Set to Pay Out Up to $4.3B to Customers Due to COVID-19
Lloyd’s, the world’s leading (re)insurance market, today revealed that it will pay out in the range of $3bn to $4.3bn to its global customers as a result of the far-reaching impacts of COVID-19. This is on a par with 9/11 in 2001 and the combined impact of hurricanes Harvey, Irma and Maria in 2017, all… Continue reading Lloyd’s Market Set to Pay Out Up to $4.3B to Customers Due to COVID-19