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Umbrella and property hardening at fastest pace since 9/11: CIAB

US commercial insurance hardening accelerated in the first quarter, according to a survey by The Council of Insurance Agents & Brokers (CIAB), but Covid-19 affected carriers’ ability to collect premium and the availability of coverage by the end of the quarter.

Market tightening to drive Everest Re outperformance: KBW

Rising (re)insurance rates will partially offset Everest Re’s Covid-19 underwriting and investment losses, according to equity analyst Keefe, Bruyette & Woods, which has maintained an “outperform” rating on the Bermudian.

Covid-19 accelerating North American rate hardening, says Aon

Pricing and rates continue to harden in North America’s insurance market with Covid-19 only serving to accelerate the transition as losses and low interest rates take their toll on underwriters’ ability to turn a profit.

Average D&O price per million up 104% in Q1: Aon

Aon’s D&O pricing index reveals that pricing soared in the first quarter, with a headline figure of a 104.1 percent increase on average and an adjusted increase of 73.0 percent when excluding three clients that skewed the figures.

Pricing accelerated in April across most US commercial lines: Ivans

Most lines of US commercial insurance saw accelerating renewal rates in April compared to March 2020, according to the latest Ivans Index update.

AFG reports highest pricing in P&C unit for over five years

American Financial Group (AFG) has revealed pricing in its specialty P&C group is the highest it has achieved in over five years, while announcing first quarter results that included the run-off of Neon dragging down premium growth.

Cyber rates up 10-15% as capacity starts to tighten

Willis Towers Watson has revealed that primary and excess cyber renewals are now averaging premium increases in the mid- to upper-single digits, as losses continue to mount.

Covid-19 to extend hard market through 2021: Willis

Willis Towers Watson’s Insurance Marketplace Realities spring update has predicted North American commercial buyers will face newfound scrutiny of their terms and conditions while not a single line of business is forecast to have rate decreases.

James River Q1 GWP plummets due to Uber cancellation

James River has reported a first quarter operating profit that beat analyst expectations but included a 27 percent drop in E&S gross written premium (GWP) and a deterioration in its combined ratio to 100.6 percent.

Hiscox and R&Q: when is first move an advantage?

R&Q is making a habit of ballsy spring time capital raises. In March 2019, it raised £107mn from the equity markets, the equivalent of circa 40 percent of its then market cap.

Travelers to continue push for rate despite Covid-19 impact

After reporting strong momentum on pricing in its business insurance unit earlier today, Travelers said it will continue to seek rate where it is required on its book, despite the impact of Covid-19 on the economy.

Commercial property sees record rate highs in Q1 on Ivans index

Average US commercial property insurance rate increases hit record quarterly highs during the first three months of 2020, according to the latest data from the Ivans Index.

Syndicates seeking 20%+ rate rises for US energy casualty business

Lloyd’s syndicates are pushing for rate increases of more than 20 percent for some US energy casualty business, with pure offshore and marine underwriters looking for rises of 10 to 15 percent, according to Marsh JLT Specialty.

Non-standard auto market frets over US state mandates

BMS has revealed that the biggest Covid-19-related concern among non-standard auto carriers, MGAs and reinsurers is US states putting moratoriums on policy cancellations for non-payment, while a reduction in premiums could leave smaller MGAs fighting for survival.

Cat bond pricing to continue hardening as traditional supply tightens

Primary cat bond issuance spreads are set to continue widening through 2020 as volatility endures in financial markets and traditional reinsurance and retro capital tightens, according to ILS fund manager Twelve Capital.

Diversifying cat bond market outperforms despite recent sell-off: Twelve Capital

The recent sell-off by some cat bond investors in the secondary market does not reflect the fundamentals of the asset class, which has positively outperformed while demonstrating a low correlation to broader financial markets, according to Twelve Capital.

Coronavirus won’t dent positive pricing momentum: JMP

A coronavirus-spurred recession will be “very manageable” for the P&C insurance sector, with a drop-off in insurance demand due to economic slowdown not powerful enough to halt the industry’s firming pricing cycle, JMP Securities analysts have said.

Ark hires five-strong Neon D&F team

Lloyd’s insurer Ark will shortly apply for a Lloyd’s pre-emption to accommodate a well-regarded D&F property team and give the managing agency headroom to absorb the continuing rate increases in the class.

US commercial rates up over 6% in Q4: WTW’s CLIPS

US commercial insurance price increases accelerated further in 2019’s fourth quarter, to over 6 percent, according to Willis Towers Watson’s most recent Commercial Lines Insurance Pricing Survey (CLIPS).

IVANS and MarketScout data support accelerating price hardening

The latest data from IVANS on US commercial insurance pricing reveals that four of the major lines it tracks saw an increased rate of average price rises in February compared with January while Q4 increases averaged across all lines also accelerated.

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