CNA adds to upbeat Q3 US casualty rates themeCNA Financial has become the latest US insurer to highlight the improving picture of US casualty after years of negative rates and creeping loss inflation.
AIG turns US casualty market in Q3AIG has told its reinsurers it is successfully achieving rate increases across a giant swathe of its US casualty book in a strategy that is likely to be seen as supporting upwards pricing pressure in the broader market
Roundtable: Reinsurers must move away from siloed productsThe reinsurance industry must move away from offering products in siloed lines of business and treat each class as a multi-class, according to a group of industry leaders gathered in Baden-Baden this year.
Reinsurers to push for Japan cat agg rate spikeIn contrast to other peak zones, cat reinsurers are increasingly confident of significant rate increases for the larger Japanese cat treaties that renew at 1.4.
Hannover Re forecasts modest upswing for loss-affected German cat treatiesHannover Re expects positive premium development in its domestic German market for the upcoming round of treaty renewals at 1.1, albeit at a more muted pace than in the previous year.
A market unmoved – but not unchangedThe (re)insurance market must be poised to respond to the profound changes facing the industry, according to Liberty Mutual Re’s president Dieter Winkel
Nash: 'shadows' cast over industry ahead of 1.1 renewalsGuy Carpenter’s international CEO James Nash has praised reinsurers for its “rational response” to the estimated $140bn of insured cat losses last year but warned that new “shadows” are being cast over the industry ahead of the 1.1 renewals.
Reinsurance remains a buyers’ market despite cats: MarcellThe head of Aon’s newly-minted Reinsurance Solutions business Andy Marcell has said rates in the sector still favour those seeking capacity.
Hannover Re aims for 10% GWP Boost as it forecasts rate stabilityGerman reinsurance giant Hannover Re is “well on track” to achieve its 2018 year-end target of a 10 percent hike in gross premiums despite intense competition continuing to weigh in and shape pricing.
A reason to be cheerful...In January – amidst the gloom of mid-winter and the disappointing 1.1 renewals – we pointed to signs of optimism.
Alternative capital reaches record-breaking $98bn: Aon SecuritiesAlternative capital available in the (re)insurance market has hit $98bn – a record for the sector - according to Aon Securities.
Reinsurers face ‘uncomfortable and difficult’ choice: VickersCarriers from across the market have to make a series of “painful” decisions in order to be profitable, the chairman of Willis Re International James Vickers has said.
Industry on ‘borrowed time’ ahead of another market cycle: BredahlThe industry is living on “borrowed time” before another cycle in the market drives an increase in pricing, Third Point Re president and CEO Robert Bredahl has said.
FHCF lowers attachment point for $1bn coverFlorida’s Hurricane Catastrophe Fund (FHCF) has lowered the attachment point for its $1bn cover, of which Renaissance Re wrote more than a third.
Property and finpro drive commercial line price hikesCommercial insurance pricing increased in the second quarter, driven by growth in property, as well as financial and professional lines, according to Marsh.
It’s more than just price pushing insureds to capital marketsA group of senior risk managers and insurance buyers have threatened to leave traditional insurance markets if the available coverage does not adapt to reflect changes in how businesses operate.
Kingstone increases cat limit by 40 percent and enjoys rate reductionNASDAQ-listed US insurer Kingstone Companies increased its cat treaty limit by over 40 percent at the 1 July renewals while enjoying a “single digit” reduction in the risk premium paid to its panel of 46 reinsurers.
Non-life premiums up 2.8% globally in 2017: Swiss ReGlobal non-life premiums rose by 2.8 percent last year to approximately $2.2tn, according to Swiss Re.
Marine insurance market ‘split’ and ‘confused’: JLTEfforts by Lloyd’s to talk up marine rates in the London market is driving a wedge between syndicates in One Lime Street and their international competitors, according to JLT.
Rate increases ‘dissipate’ at June and July renewals: Willis ReThe momentum for rate increases on loss-free reinsurance accounts dissipated during the June and July property catastrophe renewals, according to analysis by Willis Re.