Rates

Other liability and auto liability reserves remain deficient: AM Best

US property casualty (P&C) reserves for other and product liability lines as well as auto liability remained deficient at the end of 2018, despite an improved position on overall industry reserves, according to AM Best.

Commercial insurance rates to climb by up to 5% in ’19: BRG

US commercial insurance pricing is expected to increase by up to 5 percent in 2019, according to a survey of carriers by analysts at The Buckingham Research Group (BRG).

IGI welcomes &quote;improving&quote; rates as 2018 profits leap

IGI welcomes "improving" rates as 2018 profits leap

Dubai-headquartered insurer IGI enjoyed a leap in profits in 2018 and said it was enjoying rate rises in many of the classes it operates in.

Commercial insurance claims inflation increased in 2018: CLIPS

There was an elevated level of claims cost inflation in aggregate for 2018, with estimates above 4 percent on an earned basis, compared to below 2 percent in 2017, according to Willis Towers Watson.

Carriers increased information requests as prices hardened in Q4: CIAB

The Council of Insurance Agents & Brokers has reported all US lines reported slight to moderate premium price increases in the fourth quarter except workers’ compensation, cyber and terrorism.

Citizens looking at around $200mn risk transfer for PLA

Florida’s Citizens Property Insurance Corporation is considering buying approximately $200mn of private reinsurance for its personal lines account (PLA) this year, The Insurer can reveal.

Heritage goes back to 90% FHCF participation

Florida-based carrier Heritage has elected to increase its cat fund participation from 45 percent to the maximum level of 90 percent in a move it says could slash $3bn of private reinsurance demand if the rest of the market follows suit.

US P&C underwriting loss narrows in 2018: AM Best

AM Best is maintaining a stable outlook for US property casualty insurance, but notes the industry will report its third underwriting loss in a row for 2018 and commercial lines pricing remains particularly challenging.

UK commercial rates set to rise above the global average: Moody’s

Commercial insurance rates in the UK are forecast to outperform the global average, however continued pressure on margins will likely mute much of the uptick, according to a report by Moody’s.

Global commercial insurance price rises pick up: Marsh

Average global commercial insurance prices climbed by 2 percent in Q4 2018 according to broker Marsh’s latest report on the sector – the fifth consecutive quarter of hardening and the steepest uplift since the survey began in 2012.

IG cover incepts; achieves fifth year of rate reductions

The International Group has eked out a rate reduction of around 1.7 percent for its cover that incepts tomorrow (20 February) for 2019/2020, marking the fifth year in a row it obtained improved terms.

Casualty market tightens while 2017 hurricane losses climb: JLT Re

Casualty reinsurance rates showed signs of upward pressure at 1.1 as reinsurers navigated an uptick in loss ratios and an increase in the frequency of severe losses, JLT Re said.

US P&C sector needs more price hardening to return to rate adequacy: S&P

US P&C insurers can do better than the low single-digit pricing increases they took in 2018 and speed the path to rate adequacy, according to the latest outlook from S&P Global Ratings.

Aviation market continues to harden in Q4: JLT

The aviation insurance market continued to harden during the fourth quarter as renewal activity intensified, JLT has said.

Guy Carp: Europe cat renewals weighs on 1.1 pricing

Despite 2018 being one of the worst-ever years for global insured cat losses, ample capacity and stiff competition among reinsurers saw European cat programs renew an average of 2.6 percent down at the 1 January renewals, according to Guy Carpenter.

Alternative capital continues to grow while traditional reinsurance contracts

Alternative capital continues on an upward trajectory, with the market standing at $99bn at the end of the third quarter of 2018.

US commercial rates up 2% in 2018

The US commercial insurance composite rate increased on average 2 percent over the course of 2018, according to MarketScout.

Downstream energy losses trumped capacity by $2bn in 2018: JLT

The downstream energy market was hit with a loss bill of $3.75bn last year, outstripping the premium pool for the class by more than $2bn, according to JLT.

1.1s: It’s all about the C word...

Willis Re and JLT Re published their reviews of the 1.1 renewal season today and, on first read, it is difficult to match their analysis with the “hardening” predictions heard with increasing confidence in Q4 2018 by underwriters.