Following a costly 2023 severe convective storm season, Gallagher Re’s Josh Knapp, Executive Vice President, Broking, National, has noted that reinsurers are proving less willing to provide aggregate covers for regional property cat risk, though their overall appetite “remains healthy.”
Tag: reinsurance renewals
Industry Leaders See Strong Reinsurance Demand Ahead of Jan Renewals
Executives and leaders from the insurance and reinsurance industries are seeing strong demand for protection and have urged the industry to work together to leverage its strengths in such a competitive market. Senior industry leaders discussed how the insurance and reinsurance industries can provide the needed capacity and solutions to address the evolving exposure environment,… Continue reading Industry Leaders See Strong Reinsurance Demand Ahead of Jan Renewals
A Measured Approach to April 1 Renewals: Willis Re
Reinsurers took a measured approach to the April renewals, which saw significant rate increases on loss-affected accounts and more modest rises on loss-free business. The global reinsurance sector smoothly moved to the new working-from-home model following the COVID-19 outbreak and was able to provide uninterrupted service, according to the latest 1st View renewals report from… Continue reading A Measured Approach to April 1 Renewals: Willis Re
Reinsurance Capacity Down at Political Risk Renewals: Willis Re
A decline in reinsurance capacity has helped to trigger price hardening in some quarters of the political risk and trade credit market at the January renewals, according Willis Re. The broker noted that, while there remains an abundance of headline insurance capacity in the political risk space, actual capacity is down due to a number… Continue reading Reinsurance Capacity Down at Political Risk Renewals: Willis Re
Aon Sees Disciplined Renewals Despite Market Challenges
Global insurance and reinsurance broker Aon has said that in spite of new market dynamics, programs renewed in an orderly fashion at the January 2020 reinsurance renewals season. Aon’s January 2020 Reinsurance Market Outlook report highlights an orderly renewals season in most regions, adding that this occurred despite the impacts of further client differentiation in… Continue reading Aon Sees Disciplined Renewals Despite Market Challenges
Market Dynamics Suggest Higher Overall Reinsurance Rate Increases at Mid-Year
Analysts at Keefe, Bruyette & Woods (KBW) expect property and casualty (P&C) insurers and reinsurers to report manageable catastrophe losses in Q1, while the market’s distinction between loss-free and loss-affected accounts’ pricing suggests higher overall rate increases at the upcoming mid-year reinsurance renewals. In terms of large events, the global catastrophe experience in the first-quarter… Continue reading Market Dynamics Suggest Higher Overall Reinsurance Rate Increases at Mid-Year
January Renewals Highlight Reinsurance “Pricing Gap”: Willis Re
The January 2019 reinsurance renewals have highlighted a “pricing gap” between cedants with peak peril exposure or poor loss records and other accounts, according to a new report from broker Willis Re. The company earlier told the Financial Times that reinsurance rate increases did not materialise at the January 1 renewals, resulting in an overall… Continue reading January Renewals Highlight Reinsurance “Pricing Gap”: Willis Re