All Renewals articles – Page 4
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Cyber rate rises of 300% ‘not uncommon’ - Miller
Despite ‘no material change in exposure’, insurers are upping premiums by 100% on average and reducing capacity
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Hannover Re reports combined ratio of 99% in H1
The reinsurer is maintaining its profit guidance after generating group net income of €649 million in the first six months
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FLOIR's warning as Demotech moves to downgrade 17 carriers
Florida Office of Insurance Regulation slams the move; says rating agency is exerting ’coercive influence’
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Mid-year renewals: Inflation takes its toll
Pricing was near “distress levels” at mid-year as reinsurers face their toughest market since 2008, says Gallagher Re
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Buyers faced “near-perfect storm” at 1 July
Alternative capital set for robust year as traditional capital decreases, states Aon
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Pressure builds ahead of mid-year renewals
Most monoline Gulf carriers were not able to complete their catastrophe reinsurance treaties, including Citizens
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Heritage details cat reinsurance program
Reinsurance to Assist Policyholders (RAP) program unnecessary despite ’deteriorating capacity for Florida risk’
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Rates up 20% to 30% at ‘Florida book’ renewals
Some carriers are exiting business to make their catastrophe reinsurance more affordable
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Pool Re slashes rates for terrorism cover
UK terrorism pool has announced the most significant reduction in its reinsurance pricing for 20 years
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Hannover Re reveals ‘higher than expected’ losses in Q1
The reinsurer’s combined ratio in property and casualty reinsurance increased to 99.5%
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Florida property insurers under “immense pressure”
Elevated reinsurance costs, coupled with higher loss and litigation costs, are challenging Florida property insurers - AM Best
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Commercial rates rise for the 18th consecutive quarter
Hard market is beginning to moderate but inflationary pressure could impact pricing going forward - Marsh
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SIRC 2022 will be an in-person event
The reinsurance conference is returning on 31 October to 3 November at Singapore’s Sands Expo & Convention Centre
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Orderly renewal at 1 April - Gallagher Re
Capacity largely sufficient in most classes as inflation becomes a key topic
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Reinsurance sector retains stable outlook - AM Best
Hardening trend is expected to continue in 2022 after major cat losses in 2021
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Renewal rules require brokers to re-examine proposition and go ‘back to the future’
The motor market is ‘a perfect storm’ ahead of the FCA’s pricing rules coming into effect – brokers will need to focus on ‘agility’ and ‘be service-related’ if they are to succeed post-January
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The ART of renewals
Alternative risk transfer and parametric solutions can offer more than just relief from a hard market
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Global reinsurance approaching equilibrium: Willis Re 1st View
Reinsurance rate increases continued for most major lines and territories during the 1.6 and 1.7 renewal period; however, in many cases reinsurers had to accept firm order terms below their initial quotes.
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Hard market: “Start renewals early”
Risk managers should start their renewal process early and manage their expectations as the hard market plays out, advises FM Global