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
Tag: reinsurance
Reinsurers to Partner with Tremor to Develop Features
Tremor Technologies, Inc., the leading online reinsurance pricing and placing platform, is pleased to announce the launch of its Reinsurer Product Council, which includes the participation of eight global reinsurance companies and ILS funds representing nearly $100 billion in industry capital. Companies taking part include major US, Bermudan, and European reinsurers, as well as alternative… Continue reading Reinsurers to Partner with Tremor to Develop Features
Global Reinsurers See Inflation, Russia-Ukraine War Driving Higher Rates
Top reinsurers said at the industry’s annual meeting in Monte Carlo that global geopolitical tensions, high inflation, and climate change have increased demand for risk protection and will result in higher premiums. Reinsurers insure insurers and have raised premiums in recent years in response to higher losses. “On top of the effects of COVID-19 and… Continue reading Global Reinsurers See Inflation, Russia-Ukraine War Driving Higher Rates
Geopolitical Tensions, Climate Change, Inflationary Pressures Increasing Exposures, Reshaping Insurance
Global geopolitical tensions, macroeconomic developments, and climate change increase demand for risk management. The re/insurance industry must prioritize modeling and contract certainty to ensure pricing is appropriate for the risks assumed, thereby increasing capacity. Swiss Re supports clients with its risk knowledge, capital strength and innovative solutions. Ahead of the Rendez-Vous de Septembre 2022, Swiss… Continue reading Geopolitical Tensions, Climate Change, Inflationary Pressures Increasing Exposures, Reshaping Insurance
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
Reinsurance M&A Stalls Amid Macroeconomic Risks, Volatile Claims
According to Fitch Ratings, M&A transactions in the global reinsurance sector will be limited into 2023 amid investor concerns over macroeconomic risks and heightened catastrophe losses linked to climate change. We expect reinsurers to prioritize pricing, risk management and organic growth rather than M&A as they contend with the implications of the economic slowdown, high… Continue reading Reinsurance M&A Stalls Amid Macroeconomic Risks, Volatile Claims
Property Natural Catastrophe Reinsurance Capacity Contracted During Mid-Year Renewals
Aon, in its recently released Reinsurance Market Dynamics report which examines macroeconomic and industry trends observed during the June 1 and July 1 reinsurance renewals, says reinsurance buyers faced a “near-perfect storm,” with reinsurance capacity constraints exacerbated by insurers’ rising demand for reinsurance protection. Reinsurer capital fell to $645 billion on March 31, 2022, from… Continue reading Property Natural Catastrophe Reinsurance Capacity Contracted During Mid-Year Renewals
Extreme Weather to Pose a Greater Threat on Offshore Energy and Shipping Industries
The global offshore energy and shipping sectors are under a greater than expected threat from climate change as extreme weather becomes more commonplace warns Chaucer, the specialty reinsurance group. In a new report, ‘Oceanographic climate change: The impact of ocean-based climate change trends’, Chaucer warns that the offshore energy sector – particularly assets such as… Continue reading Extreme Weather to Pose a Greater Threat on Offshore Energy and Shipping Industries
Insurers Avoid Steep Losses Thanks to Reinsurance, Premiums Expected to Rise
American International Group Inc. and other insurers avoided significant losses this year as a result of a spate of extreme weather, thanks in part to the reinsurance industry. However, increased reliance on these policies almost certainly means price increases are on the way. “This year we’re seeing good demand and good price increases for reinsurance,… Continue reading Insurers Avoid Steep Losses Thanks to Reinsurance, Premiums Expected to Rise
More of the Same for April 1 Reinsurance Renewals
International reinsurance renewals completed for April 1, 2021 followed trends set earlier in the season, as market pricing remained firm in virtually all classes and territories. Capacity was adequate across the board, and no substantive changes took place in negotiations over exclusionary language, according to the latest 1st View renewals report from Willis Re, the… Continue reading More of the Same for April 1 Reinsurance Renewals