Geopolitical and economic risks are worrying Marsh McLennan’s clients as the broker sees rising costs for risks from catastrophes, social inflation and reinsurance, said its chief executive officer.
Tag: reinsurers
Navigating the Hard Market for Reinsurance
As 2023 drew near, the reinsurance market entered a challenging phase characterized by significant rate increases and a more cautious approach to risk. Reinsurance is insurance for carriers. And, when reinsurance rates fluctuate, they impact distribution channels on all sides, as seen in robust marketplaces such as the Program Business Storefront Directory.
As Climate Catastrophes Rise, Reinsurers Reduce Risks
Natural disasters are now happening so frequently that reinsurers — the firms that sell insurance to insurance companies — are scaling back their exposure to such risks.
P/C Insurers Facing Hardest Market in a Generation: APCIA
The APCIA and University of South Carolina Associate Professor Robert Hartwig examine the top inflation trends, natural disaster losses and financial impacts resulting in significant pressure for property insurers, reinsurers, and consumers.
Reinsurers Rethinking Business in U.S. Disaster Hotspots
Reinsurers are increasingly reconsidering their business in natural disaster-prone areas such as California and Florida as losses mount.
Higher Interest Rates Are Curing a Capital Glut for Reinsurers
There have been many big storms in recent years. But they haven’t come in a market environment quite like this one, with rapidly rising interest rates.
Reinsurers Looking to Exclude Coal from Bulk-Buy Policies in Green Gambit
Major reinsurers have already pulled back from providing bespoke cover for coal projects as part of efforts to meet global climate change commitments, but now comes the hard part – finding ways to exclude coal from bulk-buy contracts, known as “treaty” reinsurance. Reinsurance companies help to share the burden of insurance risks by underwriting frontline… Continue reading Reinsurers Looking to Exclude Coal from Bulk-Buy Policies in Green Gambit
Munich Re Expects Further Hardening of Markets
Following years of eroding rates caused by excess capacities and low major-loss expenditure, particularly in European markets, low interest rates – likely to remain even lower for even longer due to the coronavirus pandemic – are impacting the profitability of reinsurers. Insurance covers are therefore likely to become more expensive, particularly for long-term risks in… Continue reading Munich Re Expects Further Hardening of Markets
Global Reinsurers Resilient in Face of COVID-19: AM Best
Despite mounting uncertainties around the coronavirus pandemic, AM Best believes reinsurers globally are well capitalized and remain resilient thanks to a long history of innovative and prudent risk management. AM Best expects any covered losses to be manageable and believes relevant policy exclusions will hold up. Adverse impacts from the pandemic may act to restrain… Continue reading Global Reinsurers Resilient in Face of COVID-19: AM Best
S&P Stable on North American P&C Despite COVID-19 Pressures
Analysts at S&P Global Ratings believe that fallout from the coronavirus (COVID-19) pandemic will be “manageable” for North American property and casualty (P&C) re/insurers, and have maintained their stable outlook on the sector. The rating agency considers current financial market turmoil and the ensuing recession to be a greater headwind to P&C re/insurers than underwriting… Continue reading S&P Stable on North American P&C Despite COVID-19 Pressures