Rates

Energy capacity “becoming scarce” in some segments, Lockton warns

Capacity in some energy insurance classes “is becoming scarce”, Lockton has warned, while those carriers which remain in the market are also cutting back limits and imposing additional coverage restrictions.

Rate of the Union: US commercial insurance pricing momentum continues

The third-quarter results season brought with it a wealth of feedback on how US commercial rates are changing. (Re)insurers and brokers gave figures of varying detail and magnitude but the message was clear: pricing momentum was being maintained and, in many instances, accelerating.

Cats and Covid uncertainty to push US pricing in 2021 and beyond: Burns & Wilcox

The abundance of third-quarter catastrophe events and the ongoing uncertainty regarding Covid-19 means that rates in the US commercial insurance market will remain on the rise into 2021 and possibly beyond, with the E&S sector also set for further growth, according to Burns & Wilcox.

Carriers seeking larger rate increases on low excess D&O layers than primary: Lockton

Insurers on low excess layers of directors’ and officers’ (D&O) towers are typically looking for larger increases than the primary layer, while a “successful” renewal on the primary is seen as a rate hike below 30 percent, according to broker Lockton.

Scor completes restructured 1.1 retro programme with rates up, reduced agg and new tower

Scor has completed the placement of its restructured retro excess of loss (XoL) programme for 2021 which includes a reduction of aggregate limit, a new reinsurance tower and the division of its per event coverage towers into peak and non-peak zones, The Insurer can reveal.

Horton: 2021 to be best growth year in decades despite expected slowdown in rate momentum

A combination of an increased capital position and greater certainty over Covid-19 exposures could make 2021 one of the best growth years since the early 2000s for Beazley, despite an anticipated slowdown in rate momentum, according to its CEO Andrew Horton.

Multi-year reinsurance price rises a possibility: Jefferies

Reinsurance prices are forecast to rise “materially” at the upcoming 2021 renewals, according to Jefferies analysts, with multi-year rises a possibility.

EPL shifts to a hard market as Covid claims pile up

The US employment practices liability (EPL) space has shifted to a hard market as underwriters focus on the workforce impact of Covid-19 and inclusion, diversity and equity initiatives, with the already heightened level of claims resulting from the pandemic tipped to increase further.

Hard market conditions to persist throughout 2021: WTW Marketplace Realities

The hard pricing environment for North American commercial lines will last throughout next year, with some moderation of rate increases in property and greater predictability in liability lines by mid-2021, according to the latest Willis Towers Watson (WTW) Insurance Marketplace Realities report.

Stage set for tense casualty renewal

The 1 January renewal is the star of the annual global reinsurance review.

Low investment yields will underpin market-wide reinsurance rate rises: Vestergren

Heavy loss activity in specific markets will support rate increases at the upcoming 1 January reinsurance renewals, but the key dynamic that will underpin pricing improvements across the entire industry is the depressed investment environment, Hiscox Re & ILS’ Daniel Vestergren has told The Insurer.

Fear of a hard market

Downfall is a masterful film, capturing the fear and terror of what is left of the Nazi High Command during the Batttle of Berlin as the Russian tanks roll ever closer.

Financial lines reinsurers see “some stagnation” of pricing correction: panel

Financial lines and professional liability reinsurers are confident the pricing correction can be sustained for a long time but have raised concerns about the impact of new competition, how to address Covid-19 in terms and conditions, and the erosion of loss ratios in ancillary lines.

Global non-life premiums set for strong “V-shaped” recovery: Swiss Re’s Haegeli

Global non-life insurance premiums will remain positive in 2020 and rebound to growth in 2021 and 2022, with continued rate hardening, particularly in commercial lines, underpinning the recovery, according to Swiss Re.

Lancashire’s capital to support “meaningful growth” in 2021: Numis

Lancashire’s capital remains intact to support “meaningful growth” next year and take advantage of renewed rate increases after the carrier clarified the extent of its exposure to recent catastrophe events, according to a note from Numis analyst Nick Johnson.

E&S barriers to entry will limit impact from start-up capital: Iglesias

New capital formation targeting hard market opportunities in the P&C industry will face significant barriers to entry in the E&S sector and will not have a meaningful impact on dynamics, according to Allied World president and CEO Lou Iglesias.

Ocean cargo capacity remains tight with further price rises expected

Capacity in the marine ocean cargo market remains tight and the expectation is pricing will continue to increase as underwriters seek to improve results.

AIG says GI to grow top line in ’21 and deliver sub-90 underlying CR by end of ‘22

AIG said its general insurance business will go back on the growth path in 2021 and produce an accident year combined ratio excluding cats below 90 percent by the end of 2022 as the carrier highlighted rate increases on its book it says are outpacing loss cost inflation.

Beazley cat appetite to remain below 2014/15 levels: Horton

London-listed carrier Beazley will continue to temper its property catastrophe risk appetite into 2021 as pricing has not yet returned to a level where the reward ratio warrants writing materially more business, chief executive Andrew Horton has said.

Lancashire to target D&F, property cat and retro growth in 2021 as retains more risk

London-listed Lancashire is to use the capital it raised earlier this year to target growth in cat-exposed lines as well as to retain more risk on its balance sheet.

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