Rates

Swiss Re’s Haegeli warns geopolitical and trade impacts on claims and accumulation

Geopolitical tensions and uncertainty around future US trade and fiscal policies should be front of mind for P&C insurers, particularly in marine and credit lines, according to Swiss Re’s Jérôme Jean Haegeli.

UK property claims payouts total £4.1bn YTD: ABI

UK insurers paid out £1.3bn in property claims during the third quarter of 2024, with payouts for the year to date amounting to £4.1bn, new data from the Association of British Insurers has found.

Swiss Re projects moderating P&C premium growth to 2026 despite overall profitability

Global insurance premiums are set to grow by 2.6 percent annually in both 2025 and 2026, with elevated interest rates supporting P&C insurers’ profitability despite moderating premiums in the segment, according to a new Sigma report by Swiss Re Institute.

Scor forecasts risk-adjusted flat pricing at 1.1 as L&H recovery plan enters second phase

Pricing is expected to remain flat at the upcoming 1.1 renewals, with some double-digit increases on loss-affected programs, Scor’s Jean-Paul Conoscente has projected.

Motor insurance premiums fall for second consecutive quarter: ABI

Average UK motor insurance premiums fell by 2 percent in the third quarter of 2024, the second consecutive quarterly decline, according to the Association of British Insurers.

Asia marine premiums near $11bn as steady rise continues

Asia Pacific marine premiums continued their recent upward trend in 2023, rising to almost $11bn.

CNA’s Robusto: US P&C rate increases stable but international “slightly” negative

CNA’s Q3 production performance in P&C included the impact of renewal premium change that was stable at 5 percent, with the US up 1 point to 6 percent and international down 1 point to 1 percent, chairman and CEO Dino Robusto has said.

Marsh: Global cyber rates drop 6% in Q3 with declines in every region

Cyber rate decreases globally held steady in the third quarter at 6 percent compared with Q2, according to Marsh, with rate declines slowing in the US but accelerating in the UK and Europe.

Aon: US public D&O softening accelerates to 11.1% despite rising securities class actions

The average price per million for US public D&O insurance fell by 11.1 percent year on year in Q3 2024, the 10th consecutive quarter of decreases and a notable acceleration from the 5.2 percent reduction recorded in Q2, new data from Aon shows.

Marsh: US property rates drop 1% in Q3 as casualty rates jump 10%

Marsh’s insurance market index has shown that property insurance rates declined in the third quarter following 27 quarters of increases, while casualty rate increases accelerated sharply to 10 percent.

Global commercial insurance rates record first quarterly decline in seven years: Marsh

Global commercial insurance rates fell by 1 percent in the third quarter of 2024, marking the first quarterly decline in seven years, according to the latest Marsh global insurance market index.

Airline all-risks rate softening accelerates as insurers fight to retain business: WTW’s Rooley

Competition among insurers to maintain market share has led to an acceleration of rate softening during fourth quarter airline all-risks renewals, most acutely in the form of increased market verticalisation, according to WTW’s John Rooley.

Munich Re takes hardline stance on 1.1 renewals with further adjustments needed to address loss creep

Munich Re has issued a stark warning to brokers and cedants that it is “unwilling to be challenged” on wordings, price and attachment points at the 1.1 renewals, with the reinsurer adding that further adjustments will be needed for some exposures to address loss creep.

German severe weather losses to drive price and T&C improvements at 1.1: E+S Rück

Severe weather losses in Germany mean that further price increases and improvements to terms and conditions are expected at the 1 January 2025 renewals, according to Hannover Re subsidiary E+S Rück.

Russia-Ukraine lessor disputes overshadow otherwise stable aviation renewals

Ongoing Russia-Ukraine-related legal action continues to cast a shadow over the build-up to what is otherwise expected to be a stable aviation reinsurance renewal at 1 January.

Review of personal injury discount rate set to have significant impact on 1.1 motor renewals

Guy Carpenter’s Amit Parmar on the implications of the review of the personal injury discount rate for England and Wales.

Milton uncertainty hangs over renewal talks as reinsurers step up focus on European loss creep

European reinsurance buyers will enter this week’s Baden-Baden talks with a cloud of uncertainty over their upcoming 1.1 renewals as the market continues to digest the impact of Hurricane Milton.

Firm order terms issued with double-digit rate rises for IG $3.1bn XoL program

Axa XL has issued firm order terms for the International Group’s $3.1bn excess of loss reinsurance program that will see double-digit rate increases to all layers of its protection and indemnity tower, The Insurer can reveal.

GC says Milton to flatten 1.1 cat treaty pricing as Marsh insurance index drops 1%

Guy Carpenter CEO Dean Klisura said Hurricane Milton is expected to lead a flattening of pricing for property cat reinsurance at 1 January, while sister company Marsh said its Global Insurance Market Index entered negative territory in the third quarter with a 1 percent reduction.

$30bn-$50bn Milton loss ends prospect of US property/cat rate reductions at 1.1: Stonybrook

Stonybrook Capital has estimated total insured losses from Hurricane Milton at between $30bn and $50bn, with the upper end of the range ranking the event among the dozen most severe storms in recent history.

Region

Topics

Events & Conferences

Content Types