Against the backdrop of ongoing COVID-19 losses and a low interest rate environment, Hannover Re has argued that continued reinsurance rate increases are “absolutely essential” next year. In a new release that was planned for this year’s cancelled Monte Carlo meet-up, Hannover Re says it anticipates “significant price increases” spanning the various lines of property… Continue reading Reinsurance Price Increases “Absolutely Essential” in 2021: Hannover Re
Tag: reinsurance rates
Reinsurance Rates to Continue to Increase into 2021
Meaningful reinsurance rate increases should be expected into 2021 at the January renewals as overall pricing is inadequate, according to Fitch Ratings. Analysts note how there’s also still uncertainty surrounding the pandemic and that there still remains a capacity-constrained dislocated retrocession market. Reinsurers are expected to take advantage of the most favourable market environment since… Continue reading Reinsurance Rates to Continue to Increase into 2021
Catastrophes Set to Drive 2020 Reinsurance Rates Higher
Big insurance losses from hurricanes, wildfires and other natural disasters over the past two years are set to push reinsurance renewal rates higher in January, ratings agencies said. After falling for several years due to competition and fewer natural disasters, renewal rates have started to climb in the past couple of years and for 2020… Continue reading Catastrophes Set to Drive 2020 Reinsurance Rates Higher
Inadequate Pricing & Market Disruption to Push Rate Increases into 2020: Fitch
Reinsurance rate increases are expected to continue into the 2020 renewals due to ongoing disruption in the market and inadequate pricing levels, according to Fitch Ratings. Fitch noted that reinsurance pricing turned decidedly positive at the mid-year 2019 renewals, following disappointing flat and generally stable rates at January. Momentum has largely been supported by a… Continue reading Inadequate Pricing & Market Disruption to Push Rate Increases into 2020: Fitch
Reinsurers More Discerning at Mid-Year Renewals: Willis Re 1st View
Strengthening primary insurance market conditions underpinned improvements to reinsurance prices, terms and conditions at the June 1, and July 1, 2019, renewals according to the latest 1st View renewals report from Willis Re, the reinsurance division of Willis Towers Watson, a leading global advisory, broking and solutions company. Almost all buyers were able to secure… Continue reading Reinsurers More Discerning at Mid-Year Renewals: Willis Re 1st View
Global Reinsurance Pricing Not Hard, But Firming: S&P Global
After a two year period where it seemed unlikely that catastrophe losses would be enough to harden the overall market, S&P Global Ratings says reinsurers saw some green shoots during the 2019 April and June renewals, with property catastrophe rate increases in the 15% to 25% range on loss affected accounts. In a new report,… Continue reading Global Reinsurance Pricing Not Hard, But Firming: S&P Global
Swiss Re Optimistic About Renewal Rates at Mid-Year
John Dacey, the Group Chief Financial Officer (CFO) of reinsurance giant Swiss Re, has said that in all cases, rate movements at the April 1st renewals were adequate for the firm and that it’s optimistic about the important June/July renewals season. Swiss Re today reported its financial results for the first-quarter of 2019, including an… Continue reading Swiss Re Optimistic About Renewal Rates at Mid-Year
Swiss Re Expects Recent Disasters to Drive Rate Gains
Swiss Re predicts renewal price gains last month will be followed by further increases due to large-scale natural catastrophes in the second half of last year. “While the January renewals were dominated by non-loss-affected regions, we improved the price quality by 1%,” CFO John Dacey said in an earnings briefing last week. “We expect further… Continue reading Swiss Re Expects Recent Disasters to Drive Rate Gains
Property Catastrophe Rates Softened at 1/1 Renewal, Retro Rises: JLT Re
Property catastrophe reinsurance rates softened again at the key January 2019 renewal season, but the retrocession market which saw more loss-affected accounts renew saw double-digit hardening, according to JLT Re. Capital levels in reinsurance continued to play a significant role at the January 1st 2019 reinsurance renewal season, the broker explained, resulting in a softer… Continue reading Property Catastrophe Rates Softened at 1/1 Renewal, Retro Rises: JLT Re