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US D&O pricing up 13.8% in Q1

The average price for $1mn in US D&O limits was up 13.8 percent compared to the same quarter last year, Aon has revealed.

AIG reveals details on its strong pricing momentum

On its Q1 earnings call earlier today, AIG management was positive about pricing improvement while revealing increased Jebi losses will be taken entirely by reinsurers, long term property insurance deals will be halved from their peak by next year and it expects a “meaningful price correction” at the 1 June reinsurance renewals.

Hiscox grows top line in Q1 as rates climb

London-listed carrier Hiscox has witnessed a 3.3 percent uptick in gross written premium in the first quarter of 2019 – writing $1.165bn in constant currency at group level – on the back of improved rating conditions.

Brokers and UWs at RIMS agree on firming commercial insurance market

The shift in US commercial insurance pricing momentum highlighted in the Q1 earnings season was even more pronounced at RIMS last week as brokers and carriers were unusually aligned in their characterization of a transitioning market.

A psychological shift

As with broad market transitions of the past, there doesn’t appear to be any one catalyst driving what looks to be a long-awaited change in the US commercial insurance market.

US commercial and London wholesale pricing boosts Chubb’s Q1

Analysts welcomed positive news on pricing from Chubb even as the carrier reported a modest miss on Wall Street earnings forecasts.

Property leads firming US commercial insurance market: WTW

As insurance buyers prepare for RIMS in Boston next week there is further evidence of a hardening market for US commercial insurance, with Willis Towers Watson expecting firming prices “almost universally” across the sector for the rest of this year.

WR Berkley shares up 3% on pricing momentum and beat

Shares in US specialty insurer WR Berkley reacted positively this morning after a first quarter earnings beat and bullish commentary on commercial insurance pricing that adds further weight to the theory that the market is in the early stages of a meaningful transition.

Rate rises now outpacing loss costs on many lines: WR Berkley

WR Berkley reported that rate improvements helped it grow its first quarter premiums, with the US carrier suggesting signs of returning discipline “may be early indicators that the moment the industry has been waiting for is coming to many parts of the business”.

Reinsurance dedicated capital fell 5% in 2018: Willis Re

Investment depreciation of $21.4bn was a driver of reinsurance capital falling last year while rising expense ratios are pressuring profitability, according to a new Willis Re reinsurance report.

Mixed messages from bellwethers on US commercial pricing

Travelers saw a strong increase in pricing momentum on its business insurance book, but specialty carrier RLI was more muted in its enthusiasm after “flat” E&S submissions and moderate rate hikes in the first quarter.

Travelers shares up as commercial pricing accelerates in Q1

A solid earnings beat and positive commentary on commercial insurance pricing at Travelers were only slightly tempered by news of a reserve charge related to New York’s Child Victims Act legislation.

BB&T Insurance generates 6.7% organic growth

Income at US retail and wholesale broker BB&T Insurance surged to a record $510mn for the first quarter and was up 17.0 percent compared to the prior-year period, driven by 6.7 percent organic growth and the impact of its Regions acquisition.

Scor top line grows 9% at 1.4 renewals; rates “responded rationally”

Scor Global P&C grew its gross written premiums at the 1.4 renewals by 9.6 percent at constant exchange rates to Eur548mn ($619mn), with rates up significantly in Japan and US market conditions improving.

Premium volume surges in domestic US surplus lines market

The domestic non-admitted market is seeing a strong surge in business as Lloyd’s and certain US carriers led by AIG retrench from loss-struck lines.

Cyber capacity booming but insurers increasing scrutiny: Marsh

Marsh has revealed that higher demand for cyber insurance is not leading to higher pricing, with rates down by 0.6 percent for the coverage in the fourth quarter.

Pricing and declining interest rates set to dominate Q1 commentary

As the first quarter earnings season gets under way this month, a relatively light accident year catastrophe loss burden for commercial carriers and the impact of declining interest rates and rising equity values on investment portfolios are expected to be common themes.

YoY US commercial insurance prices accelerate in Q1: IVANS

US commercial auto, business owner’s policy (BOP), umbrella and commercial property rate increases all accelerated in the first quarter compared with the prior-year period, according to the latest IVANS Index.

US commercial P&C rates up 2% in Q1: MarketScout

Commercial property casualty rate increases in the US are being led by the auto market, which was up 7 percent in the first quarter, MarketScout has reported.

Energy insurance sectors diverging for first time in years: Marsh JLT

The segments of the energy market are for the first time in many years running at different speeds, with rates climbing faster in downstream than upstream and casualty, according to Marsh JLT Specialty.

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