Rates

Reinsurers fail to secure meaningful Florida rate hikes

Talk of meaningful reinsurance rate hikes for Florida business appear to have resulted in very little actual movement in price as details of the key 1.6 renewal start to emerge.

Hiscox top line surges in first quarter as rates harden at 1.1

London (re)insurer Hiscox has reported a 20.3 percent rise in gross written premiums (GWP) in the first quarter driven by improved pricing at the beginning of the year.

Florida insurer HCI adds to the downbeat 1.6 renewals tune

Floridian insurer HCI Group, which buys over $1bn of cat cover from the private reinsurance market and the Florida cat fund, has weighed in to add its voice to the chorus predicting subdued US cat rate rises at the mid-year renewals.

Scor mulls push to increase Florida market share at 1.6 renewals

As the US mid-year cat reinsurance renewals draw closer, there will be close scrutiny of how French reinsurer Scor chooses to play the season.

It’s bad out there… but is it that bad?

Many ILS investors take a very binary approach and M&A is encouraging a de-leveraging effect. Florida 1.6 renewals may be disappointing but there are still grounds for optimism…

Capital continues to flow into reinsurance market: Aon Benfield

Global reinsurance capital has continued to build despite the record catastrophes of 2017, according to Aon Benfield.

US mid-year rate increases will be suppressed by ILS 'culprit'

Investors should rein in any expectations of significant rate increases for US property cat treaties at the mid-year renewals despite last year’s $100bn+ of losses, warned JMP Securities analyst Matthew Carletti today (13 April).

US property rate rises abating: Willis

The rate increases witnessed in US commercial property lines since the record catastrophes of 2017 took place are beginning to wane, according to Willis Towers Watson.

US D&O loss ratio spike drags insurers into the red: AM Best

US D&O loss ratios spiked the highest in at least seven years in 2017 fuelled by a record number of federal securities class action suits while insurers struggled to achieve rate increases.

Another ‘disappointing’ renewal for reinsurers at 1.4: Willis Re

The flat reinsurance rates witnessed at 1 January have lingered to plague reinsurers at the 1.4 renewals, Willis Re has said.

Japanese 1.4 reinsurance renewals set to come in flat

Japan’s six largest reinsurance renewals at 1.4 are expected to come in flat after years of compound rate reductions, with international markets reluctant to countenance further cuts in the wake of a relatively stronger 1.1 this year, re-Insurance.com understands.

Pool Re expands Munich Re led XoL treaty to record £2.1bn

Pool Re has once again expanded its excess of loss treaty to a new record size of £2.1bn and extended the cover to include an element of cyber coverage, the UK state-backed terrorism mutual has confirmed today.

JLT’s Burke calls hopes for hardening market ‘premature’

JLT CEO Dominic Burke has warned burgeoning optimism over a market shift towards rising prices is ‘premature’ despite signs of an uptick following the catastrophes of 2017.

Property drags insurance prices up for first time since 2013: Marsh

A roughly 3.2 percent rise in global property insurance prices following last year’s catastrophes has pulled overall market rates up for the first time since Q1 2013, research from Marsh has found.

Carriers finally ‘called time’ on rate reductions: Willis

“Already on the ropes and fatigued” (re)insurers have finally “responded to the towel entering the ring” to call time on rate reductions, according to a report from Willis Towers Watson.

Willis Towers Watson encourages clients to unseat carriers

Willis Towers Watson has advised clients to ‘displace incumbent insurers’ to secure favourable rates at forthcoming renewals.

Scor seals 4% renewal premium growth at 1/1

Scor managed to grow its premium income by 3.7 percent on a constant currency basis at the January renewals, taking its total top line to EUR3.1bn ($3.8bn).

Government pledge to reform Ogden rate slows premium increase

The surge in premium for motor insurance tailed off in the final quarter of 2017 after a government pledge to reform the Ogden rate, according to research by Willis Towers Watson.

Guy Carpenter’s RoL index up 6.1 percent

2017 losses and additional exposures added to treaties have fuelled a 6.1 percent increase in the Guy Carpenter rate on line (ROL) index for global catastrophe premiums.