All 1 January renewals articles
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NewsReinsurance pricing to peak in 2024, but claims inflation and cat risk persist – Moody’s
Moody’s expects continued strong demand for reinsurance and higher investment yields, to drive attractive RoEs for the sector in 2024, assuming no large catastrophe events.
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NewsSwiss Re calls for underwriting discipline after strong renewals
The reinsurer wants to keep pressure on underwriting discipline this year, after a successful 2023, with $3.2bn profit and a 22% RoE.
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NewsWhere does the market go from here? – interview with Howden Tiger’s David Flandro
David Flandro, head of industry analysis and strategic advisory, Howden Tiger, spoke to GR about the reinsurance broker’s view of where the market is heading after its most recent 1/1 renewal.
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NewsMoody’s expects “firm” April and July renewals
1/1 reinsurance renewals showed moderate price increases across most lines due to balanced supply and demand, according to ratings firm Moody’s.
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NewsGuy Carpenter’s RoL index for property cat up by 5.4% globally at 1/1
At the 1/1 reinsurance renewals, Guy Carpenter’s global rate-on-line index increased by an estimated 5.4% year-on-year.
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NewsSmooth 1/1 helped by reinsurer profits, higher pricing across retro and primary markets
Global reinsurance capital surpassed $635bn at the nine-month point of 2023, according to Aon.
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News1/1 renewal stable, showing stronger supply dynamics – Howden
Reinsurance renewals in January 2024 saw a market adjusting to a period of extraordinary cyclical and structural change, according to Howden’s briefing.
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NewsSmoother 1/1 with motivated market and more capital – Guy Carpenter
Renewals characterised by ample capacity and a commercial approach to trading partnerships, albeit with continued underwriting scrutiny for casualty, cyber and SRCC, according to the broker.
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NewsHannover Re stresses upward pressure on German P&C terms and pricing
High inflation and claims expenditure on lines from motor insurance to property catastrophe events mean German reinsurance rates will rise, Hannover Re warned.
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NewsHard market dampens ILS investor appetite - AM Best
Sentiment among some ILS managers is that the supply of capital will remain tepid for some time
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NewsHardest renewal market in years as industry approaches 1 April
A shortage of capacity in property catastrophe markets has resulted in the hardest market since 9/11
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NewsNat cats will continue to test reinsurers in 2023 - Moody’s
However, strong price increases coupled with higher investment income from rising interest rates will boost profitability
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NewsMunich Re exceeds 2022 profit guidance
Reinsurer targets €4 billion profit in 2023 as chairman Wenning praises firm’s resilience after €1.6 billion Ian hit
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NewsHannover Re sees property cat rate hikes of 30%
Prices and conditions ’not seen in decades’ was present at 1 January, as reinsurer looks to mid year
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NewsSCOR rebalances book during ‘best market in decades’
Reinsurer further reduces exposure to natural catastrophe risks by 14% at 1 January
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NewsHesitant capital remains sidelined despite rating improvements - AM best
High levels of nat cat losses, coupled with rising inflation and geopolitical concerns, is denting appetite for property cat
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NewsSwiss Re’s three renewals takeaways
Capacity conundrums, late negotiations, rate increases and tighter wordings all came into play at 1 January
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News1/1 renewals put ‘stress’ on long-term relationships
There was an evident mismatch in demand and supply for property reinsurance as global capital fell by 17 percent - Aon
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NewsConsilium names Paul Richards Co-CEO
He will lead the business as Co-CEO alongside James Baird who was appointed CEO in November
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NewsReinsurers’ underwriting margins to expand in 2023
Fitch believes some property catastrophe risks could become uninsurable as industry capital shrinks by 15%
