Reinsurers News

Casualty Reinsurance Renewals See Modest Price Hikes Despite Social Inflation: AM Best

Reinsurers in general maintained adequate capacity for casualty programs, despite concerns about social inflation and some recent reserve strengthening actions, according to a report from AM Best. For reinsurers, a relatively stable economic environment in 2023, a long run of …

Climate Change Poses Significant Risk for South African Insurers: Old Mutual

Climate change poses the most significant threat for South African insurance companies and risks raising premiums and the cost of reinsurance, a top official at its biggest insurer by assets said. After staying almost flat in the decade to 2020, …

Reinsurance Market Likely to Begin Softening in 2025 as Capacity Rises in 2024: Fitch

Reinsurers’ underwriting margins are expected to peak in 2024 on the significant price rises and tighter terms and conditions achieved during 2023 and in the January 2024 renewals, which will likely lead to softer market conditions in 2025, according to …

Reinsurers’ Casualty Appetites Varied, but Capacity Was ‘Ample’ During 1/1 Renewals

Reinsurers had varied appetites for casualty reinsurance during the January 2024 renewals; while capacity was sufficient, they still maintained underwriting discipline, according to reinsurance brokers in their renewal reports. “Some reinsurers adopted a tougher stance ahead of the January 2024 …

Swiss Re Buys Cyber Market’s 1st Retrocession ILW, Brokered by Gallagher Re

Swiss Re has purchased the cyber market’s first retrocession industry loss warranty (ILW), brokered by Gallagher Re and supported by a number of specialist reinsurers. Swiss Re secured $50 million of catastrophic US cyber insurance event protection, including cover against …

Bank of England May Tighten Up Life Insurers’ Use of Offshore Reinsurance

The Bank of England may tighten supervision of life insurers’ use of the “funded reinsurance” market, typically alternative asset managers who make riskier investments, as corporate pension providers increasingly rely on this offshore sector. Funded reinsurers help insurers manage the …

January’s Property Cat Renewals See Biggest Price Hikes in Turkey, Italy and US

While the reinsurance market indeed stabilized during the January 2024 reinsurance renewals (from the chaotic January renewals of last year), buyers with loss-affected programs experienced further upward pressure on retentions and prices, according to reinsurance brokers in comments about the …

A Return to Balance: Brokers Say Reinsurance Renewals Were ‘Stable’

This year’s January reinsurance renewals were described by brokers as “stable,” “predictable,” “orderly,” “calmer,” “disciplined,” with “increased appetites” and a return to supply/demand balance. What a difference in tone from last year’s grueling January renewals. “In a marked change on …

Reinsurance Buyers Find ‘Smoother’ January Renewals With Ample Capacity: Carpenter

Ceding companies are finding that a responsive reinsurance market has materialized for the Jan. 1, 2024 renewals – a reflection of ample capacity and a commercial approach to trading partnerships, according to Guy Carpenter, the reinsurance business of Marsh McLennan. …

Top International Insurance Journal Stories of 2023

Yes, another year has flown by, and it’s once again time for the top international Insurance Journal stories of 2023. This year, they are a real hodgepodge of topics, ranging from hard market trends, to faulty wind turbines, to the …