Reinsurance rate increases continued for most major lines and territories during the June 1 and July 1 renewal period; however, in many cases reinsurers had to accept firm order terms below their initial quotes. That indicates that the market is approaching equilibrium, according to the latest 1st View renewals report from Willis Re, the reinsurance… Continue reading Global Reinsurance Approaching Equilibrium: Willis Re 1st View
Tag: reinsurance renewal rates
Guy Carpenter: Property Catastrophic Rates Up Again at April 1 But Increases Fading
Property catastrophe pricing increased for the third year running at the April 1st, 2021 reinsurance renewals, while discussions about coverage were dominated by communicable disease and cyber, according to Guy Carpenter (GC), the reinsurance broking arm of Marsh. Despite the positive momentum continuing at April 1st, GC notes that the average increase was actually the… Continue reading Guy Carpenter: Property Catastrophic Rates Up Again at April 1 But Increases Fading
Hannover Re Posts 2.3% Rate Rise at ‘Solid’ January Renewal
Reinsurance giant Hannover Re expects to generate net income of around €1.28 billion in 2019 and grew its premium volume in traditional property and casualty reinsurance by 14% at January 1 renewals, with the price increase for the renewed business amounted to 2.3%. At 15.5%, the strongest growth in the renewals was seen from proportional… Continue reading Hannover Re Posts 2.3% Rate Rise at ‘Solid’ January Renewal