Rates

Adequate capacity driving stable APAC reinsurance pricing: Fitch

Adequate capacity has led to stable reinsurance market pricing for the Asia Pacific region throughout 2024, according to Fitch Ratings.

Jefferies: Sub-$50bn Milton loss unlikely to drive property ri rate increases in 2025

With losses from Hurricane Milton likely to be “more modest than initially feared” after the storm’s shift in track, Jefferies analysts have said the event is not expected to lead to property reinsurance rate increases in 2025.

Milton set to curtail property softening but not currently viewed as market mover

Hurricane Milton’s potential to be “the big one” took over conversations at the CIAB and APCIA events earlier this week as talk turned to the possibility of a market-moving event, but a southerly shift in track meant the worst-case scenario did not play out.

WTW: Canadian cat-exposed property facing rate rises of 10-20% in 2025

Ample capacity means that catastrophe-exposed Canadian commercial property risks are facing rate rises of just 10 to 20 percent next year even as the nation’s insurers digest the impact of their worst year on record for natural disaster losses, according to WTW.

Alternative risk transfer rates flat in North America: WTW

Rates for parametric and other lines of alternative risk transfer in North America are expected to be flat as demand remains high, according to WTW.

Hurricane Milton could cost insurers up to $100 billion, analysts say

October 9 (Reuters) by Carolyn Cohn and Noor Zainab Hussain – Hurricane Milton could result in losses of up $100 billion for the global insurance industry, creating a surge in 2025 reinsurance prices that could boost some insurance companies' shares, analysts said on Wednesday.

War risk insurers push for rate increases after spate of Black Sea attacks

Marine war insurers are set to push for increases to Black Sea war risk premiums after the Russian military launched a spate of attacks on commercial vessels in recent weeks.

RenRe scrutinising cedant action on portfolio exposure and rate after year-long US casualty study

RenaissanceRe has communicated to brokers on its US excess casualty reinsurance book that it needs to see data-based evidence of cedants’ actions to address underlying portfolio exposure and suggested significant rate increases may be needed where loss cost trends outpace pricing, The Insurer can reveal.

Signs of stabilizing reinsurance market for regionals navigating SCS challenges

US regional insurers including mutuals hit by severe convection storm losses are facing a more stable property renewal amid signs of some returning appetite from reinsurers, including with the renewal of Guy Carpenter’s RAP facility, The Insurer can reveal.

Milton threatens to reverse direction of property cat renewal

Hurricane Milton’s rapid intensification on Monday to a Category 5 storm with Tampa Bay in its sights was met with a predictable sell-off of Florida carrier stocks as well as talk of a sudden shift in dynamics in the property cat reinsurance market ahead of 2025 renewals.

Canadian cedants facing hefty rate rises in wake of record cat year

Reinsurers are expected to push for substantial rate increases and higher retentions on Canadian business at the 1 January 2025 property renewals as the country reels from what is already its worst ever year for insured catastrophe losses.

Scor’s Conoscente: Insurance industry must address under-pricing in property and casualty

Amid calls from brokers for reinsurers to provide lower-attaching property cat coverage and resistance to attempts to further cut ceding commissions on US casualty quota shares, Scor’s Jean-Paul Conoscente has said the industry must first address under-pricing at the primary level.

Personal lines drive strong H1 for US P&C industry

The US property and casualty industry swung to a strong underwriting gain in the first half of this year, with the turnaround in personal lines expected to continue into 2025, while commercial lines may face modest pressure.

The pursuit of the right price

Claims activity in the insurance market is increasingly driven by elevated frequency of medium-sized events and secondary perils, rather than by single large-scale events, says Wade Gulbransen, CEO of Howden Re North America.

Airline segment remains “buyers’ market” as capacity growth continues: Gallagher

Continued capacity growth has led to further competition in the airline market, with the upcoming reinsurance renewals set to play a critical role in defining the sector’s future underwriting direction, according to Gallagher Specialty.

GL trend “stable” as price rises continue at “predictable” pace

Pricing in the general liability and umbrella and excess liability segments continues to rise with rates flat to up 10 percent, according to Hub, while fellow broker Lockton has said the primary sector “remains predictable for most buyers”.

Australian cyclone pool premium savings offset by reinsurance cost increases

The Australian government's cyclone reinsurance pool has begun delivering lower premiums for cyclone-exposed policyholders, but these savings have been offset by other cost increases across the insurance value chain, according to the country’s competition watchdog.

MC roundtable: Reinsurers urged to be disciplined during nuanced 1.1 property cat renewal

Reinsurers will look to maintain the discipline shown at mid-year during the upcoming 1 January property catastrophe renewals as cedants seek to solve continued earnings volatility concerns, while discussions will be increasingly nuanced with much depending on the performance of each account.

Hurricane Helene will serve as useful reminder in build-up to renewals: Citi

Hurricane Helene will serve as a useful reminder that rates and terms and conditions remain resilient in the run-up to 1 January, according to Citi’s James Shuck.

AmRisc panel: Only a return to “fear in the room” would tighten softening property market

The major shift towards softening property market conditions will only be reversed by the return of “fear in the room” from an event which has a major financial impact or changes the perception of risk, although a series of smaller events could slow the pace, according to a panel of brokers and insurers.

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