Rates

US D&O and professional liability rate hikes spike in Q4: MarketScout

Fourth quarter rates for commercial insurance placements across the US increased 5 percent, according to MarketScout.

Q3 saw largest US commercial price shift since 2013: CLIPS

US commercial insurance prices accelerated in the third quarter, with an aggregate price change reported by carriers exceeding 4 percent, according to Willis Towers Watson’s Commercial Lines Insurance Pricing Survey (CLIPS).

Excess D&O carriers finding success recalibrating ILFs

The D&O market is showing accelerating double-digit rate increases heading into 2020, with excess hardening outpacing primary in some cases.

US commercial insurance now in an “unconventional” hard market: CIAB

After eight consecutive quarters of firming rates, accelerating momentum with nearly double digit increases in umbrella, commercial auto and property in Q3 2019 means that a hard market has finally arrived, according to the Council of Insurance Agents and Brokers.

Reinsurers look set to eke out rate rises from IG as members increase premium

For the first time in five years the International Group of P&I clubs (IG) looks set to concede more premium to reinsurers; mirroring the actions of individual clubs who are also charging members more in premium, The Insurer understands.

Retro-driven reinsurance increases will add to US property momentum: AIG

Reinsurers will start passing on higher retro costs to primary carriers, adding momentum to US commercial property insurance pricing that still needs to increase 40 percent to get back to 2009 levels, according to AIG executive Kean Driscoll.

Way: primary and reinsurance hardening now seen 'in tandem'

Industry entrepreneur Stephen Way says the primary and reinsurance markets are now acting “in tandem” as he announced a further $50mn injection into the operating companies owned by Houston International Insurance Group (HIIG).

Willis forecasts “more orderly” North America market by mid-2020

North American commercial insurance buyers will face “sizable” price increases in 2020 across most lines but the market will become more orderly by the middle of the year, Willis Towers Watson has forecast in its 2020 Insurance Marketplace Realities report.

Commercial insurance rates surge 8% in Q3: Marsh

Global commercial insurance pricing has increased by 8 percent in the third quarter of this year, on average, marking the eighth consecutive quarter of pricing increases.

E&S pace of change remains “rapid and unprecedented”: AmWINS

Hardening conditions in E&S property are expected to continue well into 2020, while casualty submissions are surging and the IPO D&O market is the hardest in history, according to wholesale giant AmWINS.

Hallmark looks to capitalise on E&S tailwinds after Q3 growth

Hallmark Financial Services reported its gross written premiums increased 33 percent in the third quarter, as the US specialty insurer benefited from the big rate increases being seen on E&S business.

Satellite rates to double: Greenlight’s Burton

Satellite rates will rocket in the short term in response to two substantial large losses in the third quarter, Greenlight Re’s chief executive Simon Burton has predicted.

AFG Q3 earnings up despite A&E charge

American Financial Group (AFG) has reported core net operating earnings of $205mn for the third quarter, or $2.25 per share, up from $198mn, or $2.19 per share, in the same period of 2018.

Chubb: prices firming at double or more Q1 rate “in many cases”

Chubb beat analysts’ expectations in the third quarter, reporting core income per share of $2.70, up from $2.41 in the third quarter of 2018.

Rates today lower than 2005: Gallagher

Despite witnessing widespread rate increases at recent renewals, broker Gallagher’s chairman, president and CEO, Pat Gallagher, has added his voice to the growing industry chorus which has sought to scotch any notion that this is a truly hard market.

Social inflation the early story of US Q3 reporting season

The impact of social inflation on the US property casualty industry has been the hot topic of results season so far, with Travelers’ CEO bemoaning the “broken tort system” and WR Berkley’s CEO comparing it to the med mal crisis in the early 2000s.

Munich Re bullish on European rate hardening at 1:1

German reinsurer Munich Re has said it expects the continued presence of lower-for-longer interest rates, renewed underwriting discipline and a need for carriers to generate a positive return for investors to drive upward rate momentum at the upcoming January renewals.

X marks the spot

Ahead of the reinsurance community descending on Baden-Baden this year, David Flandro, managing director of Hyperion’s technology-driven analytics business – Hyperion X Analytics – sat down with The Insurer to discuss the outlook for the market as 1.1 renewals approach.

Casualty carriers drafting exclusions “at a rapid pace”

An update from Lockton reveals that US umbrella/excess firming could last another two years, while casualty carriers are also drafting exclusions across a wide range of exposures.

Texas surplus lines premium surges 16% in first nine months

The Surplus Lines Stamping Office of Texas (SLTX) has recorded $5.35bn in surplus lines premium in the state through the first three quarters of 2019 – a 16.2 percent increase over the same period in 2018.

Region

Topics

Events & Conferences

Content Types