Renewals

LSM takes lead on WTW-placed Air Algérie all-risks cover

Liberty Specialty Markets has replaced Axa XL as the lead underwriter on the airline all-risks cover for Algerian flag carrier Air Algérie, The Insurer can reveal.

TWIA could need 43% more limit in 2025 to track exposure growth and depleted funding

The Texas Windstorm Insurance Association has projected total reinsurance limit purchased in 2025 could be as high as $5.8bn including rolled over cat bond capacity, up 43 percent year on year based on a higher exposure base and the impact of Hurricane Beryl.

Generali targeting premium increases across non-motor lines in 2025

Italian insurer Generali is seeking premium increases at 1 January 2025 that match if not exceed higher risk premiums across both motor and non-motor lines, according to Giulio Terzariol.

Scor forecasts risk-adjusted flat pricing at 1.1 as L&H recovery plan enters second phase

Pricing is expected to remain flat at the upcoming 1.1 renewals, with some double-digit increases on loss-affected programs, Scor’s Jean-Paul Conoscente has projected.

Fidelis eyes continued D&F opportunity after 35% Q3 growth

Fidelis Insurance Holdings CEO Dan Burrows has said the carrier is seeing “a lot of opportunity” in property D&F after growing the portfolio’s GWP by 35 percent in the third quarter, while catastrophes including Helene and Milton will reinforce reinsurance market discipline.

Definity: “Wide differentiation” among carriers expected at Canada property renewals

The management of Definity Financial Corporation expects “wide differentiation” among Canadian carriers in the property reinsurance renewals, while rising attachment points and the heavy losses this year will lead to hardening of both the primary personal and commercial markets.

Expectations converge on broadly flat 1.1 renewals as conference season closes

Industry sentiment continues to point towards broadly flat property catastrophe reinsurance renewals as this year’s international conference season concludes in Singapore today, with recent reinsurer gains on terms and conditions likely to be maintained at 1.1.

Beazley expects flat property cat renewals: bullish on E&S opportunity

Beazley expects reinsurance rates to be “relatively flat” at the upcoming 1.1 renewals, according to CEO Adrian Cox, as the company continues to pursue growth opportunities in the SME and mid-market E&S space.

Munich Re’s Hauer: Reinsurance market “delicately balanced” ahead of 1.1 renewals

Munich Re’s recently appointed non-life head for Southeast Asia has described reinsurance market conditions as “delicately balanced” in the run-up to 1.1, reiterating the need for rates and conditions to remain risk-adequate.

Airline all-risks rate softening accelerates as insurers fight to retain business: WTW’s Rooley

Competition among insurers to maintain market share has led to an acceleration of rate softening during fourth quarter airline all-risks renewals, most acutely in the form of increased market verticalisation, according to WTW’s John Rooley.

European reinsurers take hardline stance on 1.1 renewals

Munich Re and Hannover Re have both sent a clear message to European cedants that they have no intention of softening their stance at the upcoming 1.1 renewals, with recent loss creep in the region meaning further adjustments to pricing and terms are likely.

Munich Re takes hardline stance on 1.1 renewals with further adjustments needed to address loss creep

Munich Re has issued a stark warning to brokers and cedants that it is “unwilling to be challenged” on wordings, price and attachment points at the 1.1 renewals, with the reinsurer adding that further adjustments will be needed for some exposures to address loss creep.

Baden-Baden Symposium: Calmer renewals to shift focus to data-sharing frameworks

With the 1 January renewals expected to emphasise stability, discussions in the reinsurance sector will instead be focused on frameworks for data sharing to address macro risks such as climate and cyber, according to industry leaders at the Guy Carpenter Baden-Baden Reinsurance Symposium.

Munich Re “stands ready” to deploy more capital into European markets

The European reinsurance market is expected to remain “dynamic” at the upcoming 1 January renewals, with Munich Re underlining that it will only seek growth where “appropriate” terms and conditions are built into primary and reinsurance contracts.

Fidelis Partnership takes 5% private placement on $3.1bn IG XoL program

The Fidelis Partnership has signed up to take on the third private placement on the International Group of P&I Clubs’ $3.1bn reinsurance program, The Insurer understands.

Middle East escalation clauses under spotlight ahead of war, political violence and terrorism renewals

Middle East escalation clauses remain a key focus of renewal discussions in the war, political violence and terrorism market, with pricing in the sector expected to soften slightly at 1 January.

Russia-Ukraine lessor disputes overshadow otherwise stable aviation renewals

Ongoing Russia-Ukraine-related legal action continues to cast a shadow over the build-up to what is otherwise expected to be a stable aviation reinsurance renewal at 1 January.

Credit and political risk reinsurers set to hold firm if no further major loss activity

Credit, bond and political risk reinsurers are expected to build on the stabilisation of capacity seen throughout 2024 and hold their position at 1 January 2025 renewals, The Insurer understands.

Gallagher Re’s Spenner: Cedants seeking balanced approach to risk sharing at 1.1

Recent Atlantic hurricane activity and elevated European floods do not represent “shock losses” for the industry despite their devastating impact, according to Gallagher Re’s Dirk Spenner, who highlighted a demand from cedants for a more balanced approach to risk sharing at upcoming renewals.

Review of personal injury discount rate set to have significant impact on 1.1 motor renewals

Guy Carpenter’s Amit Parmar on the implications of the review of the personal injury discount rate for England and Wales.

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