Renewals

EMEA’s reinsurance outlook: smoother renewals expected but dislocations still exist

MS Reinsurance’s Jörg Bruniecki examines the outlook for the EMEA region.

Allianz-led Lufthansa renewal testing airline insurers’ resolve as war rates spike

Lufthansa, one of the aviation insurance industry’s largest accounts, has gone out to market with the renewal being keenly watched as a litmus test for the resolve of hull underwriters amid fierce competition and plentiful capacity, The Insurer can reveal.

Munich Re: More orderly 1.1 ahead despite increasing nat cat losses and cyber accumulation potential

The upcoming reinsurance renewals on 1 January 2024 will be more orderly than the prior year, as the market now has a greater understanding of loss burdens owing to weather-related events and inflationary impacts, according to Munich Re’s Clarisse Kopff.

QBE Re’s Killourhy: Attachment point is “more important” than rate

Speaking exclusively with The Insurer TV, QBE Re managing director Chris Killourhy said recent renewals had seen a “change in philosophy” for reinsurers, noting that attachment points and avoiding secondary perils have been more important than rate, with much of the same expected at 1.1.2024.

On the road to reinsurance renewals: Next stop, Baden-Baden and APCIA

Reflections post Rendez-Vous de Septembre reinforce cautious optimism ahead of 1 January.

MC roundtable: PYD and rising loss costs fuelling casualty re concerns

Prior year development concerns and mounting loss costs have put casualty insurers under pressure to raise their cost of cover, while reinsurers are set to push for further ceding commission decreases in response to reduced profitability.

Deloitte CEO Roundtable: Discussions ranged from an orderly 1.1 to dynamic capital strategies, market sentiment, energy transition and LOCs

Reinsurance market dynamics point to a more orderly renewal at 1.1.2024, but with a clear need for creative solutions that address coverage gaps from recent reductions in capacity, according to a panel of senior industry executives.

MC roundtable: Execs forecast increasingly nuanced prop cat rate rises in 2024

Property catastrophe rates are forecast to rise further during 2024’s reinsurance renewals, but to a lesser degree than that seen this year and with a greater level of differentiation between cedants, senior industry executives have predicted.

Aon panel: Industry heads to 1.1 with greater capacity certainty

The industry heads towards the 1 January reinsurance renewals with greater certainty about the capacity that will be on offer, with the trapped collateral concerns that impacted the sector last year not currently an issue, speakers suggested during an Aon-hosted webinar that included executives from Inigo, Hiscox, Arch and Hannover Re.

Aon’s Fogarty: Clearer and earlier marine renewals anticipated

The upcoming marine reinsurance renewals should be earlier and less complex than last year’s challenging experience, according to Aon Reinsurance Solutions’ global head of marine James Fogarty.

Gallagher Re’s Croxford: “Different feel” to this year’s marine renewals

Upcoming marine reinsurance renewals are expected to see increased reinsurer appetite with less time spent debating terms and conditions, according to Gallagher Re’s global head of marine and energy Nick Croxford.

Gallagher Re’s Tsimaratos forecasts “disciplined softening” for ex-US property cat buyers

Cedants outside the US can expect to face what Gallagher Re’s Alkis Tsimaratos believes will be “a disciplined softening” in property catastrophe rates during renewals in 2024, owing to increased appetite and profitable results from reinsurers.

Hippo confident portfolio shake-up will make it more attractive to reinsurers at 1.1

Hippo CEO Rick McCathron believes the re-underwriting within its Hippo Home Insurance Program portfolio in recent weeks will make the business a more attractive proposition to reinsurers as it looks to renew the bulk of its quota share treaties at 1 January 2024.

Looking to the future

Everest’s Sharry Tibbitt explains how the reinsurer is working with clients to navigate current market conditions.

Henchoz warns society is “in denial about price of risk” as he calls for further rate increases in 2024

Hannover Re has forecast further price increases at the upcoming 1.1 renewals as it warned the trend of increased loss payouts will likely be sustained.

Reinsurers look to regain more ground on casualty and professional ceding commissions

The last year has seen a reversal in the direction of ceding commissions for long-tail lines quota shares, with the upcoming 1 January renewal likely to see reinsurers push to accelerate the downward pressure on cedes.

Aon’s Marcell: Stable 1.1 cat market expected amid increasing competition

Absent any major cat events between now and 1 January, Aon’s newly appointed CEO of Risk Capital Andy Marcell expects a significantly more orderly renewal as he suggested increased competition among reinsurers to deploy capacity could put downwards pressure on pricing for some buyers.

Communicating change: Managing broker and client relationships in an evolving market

Liberty Mutual Re’s Dieter Winkel on the need to adapt to a shifting market landscape.

Navigating reinsurance renewals: Adaptability is a must

BMS Re’s Andrew Wheeler highlights the dynamics that will shape upcoming renewals.

A shift in the market

Aon’s Tracy Hatlestad outlines the main topics of discussion points for property reinsurance ahead of the 2023 Rendez-Vous.

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