Latest Pricing Trends Headlines
All the headlines from our Pricing Trends Topic Page, ordered by recency.
Swiss Re Targets Nigerian Acquisition, Seeking to Tap African Growth Rates
Jun 2 2015 // Swiss Re AG, which has had an African presence for more than 60 years, said it’s in talks with Nigerian insurers to buy minority stakes and benefit from growth in the continent’s largest...
Louisiana Citizens Property Insurance Mulling Coastal Rate Hike
Jun 1 2015 // More than 65,000 homeowners in coastal parishes covered by the Louisiana’s property insurer of last resort could see their rates jump 10 percent in mid-August. Under state law, Louisiana Citizens Property Insurance...
Growing Yemen War Risk Threatens Vital Sea Routes; Premiums Likely to Jump
May 14 2015 // With Middle East giants Saudi Arabia and Iran squaring up on opposing sides in the Yemen war, the dangers to vital oil tanker and goods voyages are growing daily. Millions of barrels of oil pass through the Bab el-Mandeb...
Hiscox Reports 12% Hike in Gross Written Premiums on Good Claims Experience
May 12 2015 // Bermuda-based Hiscox Ltd., the international specialist insurer, reported gross written premiums increased by 12 percent to £561.7 million ($869.6 million), compared to £501.6 million ($776.6 million) reported during the...
European Insurers’ Dividend Growth Unlikely With Rock-Bottom Interest Rates
May 11 2015 // Expectations of rising dividends and share buybacks from Europe’s insurance companies are fading as ultra low interest rates make it harder for them to meet new capital regulations. Rock-bottom interest rates reduce...
Beazley Reports Q1 Premiums Up 6% to $546 Million
May 8 2015 // Beazley plc reported that first quarter premiums grew by 6 percent to $546 million, compared to $516 million in 2014. Beazley’s largest division, specialty lines, wrote $226 million during the first quarter, which is...
RSA Q1 Premiums Rise 1% to $2.3 Billion in Competitive Markets
May 7 2015 // RSA Insurance Group plc, the U.K.’s second-largest non-life insurer by market value, said revenue for the first quarter edged higher as it disposed of assets. Net written premiums for its core operations rose 1...
Allstate Says Profit Up 13% in Q1; Will Raise Auto Rates
May 6 2015 // Allstate Corp., the largest U.S. publicly traded seller of auto and home insurance, said first-quarter profit rose 13 percent as margins improved at the property- liability business and catastrophe losses fell. Net income...
California Workers’ Comp Premium Up 11% in 2014; Combined Ratio Still Exceeds 100
May 4 2015 // California written premium for calendar year 2014 was roughly $16.5 billion, 11 percent above 2013 and 88 percent above the written premium reported for 2009, according to a report from the California Workers’...
SCOR Global P&C Posts 5.8% Premium Increase for April Renewals
Apr 29 2015 // French reinsurer SCOR reported that the April renewals saw SCOR Global P&C’s gross written premiums increased by 5.8 percent from €374 million [$411 million] to €396 million [$436 million], at constant...
California Department of Insurance Approves CEA Rate Reduction
Apr 23 2015 // California Insurance Commissioner Dave Jones approved a statewide rate reduction of 10 percent for earthquake insurance policies issued by the California Earthquake Authority. The reduction is effective Jan. 1, 2016. Jones...
ACE’s Greenberg Cautions on Pricing, Growth Pressures
Apr 23 2015 // ACE Ltd. Chief Executive Officer Evan Greenberg said there are signs the insurance industry is entering another era of taking on too much risk as competition pressures companies to lower prices to win...
California Workers’ Comp Premium Up 11% in 2014; Combined Ratio Still Exceeds 100
Apr 20 2015 // California written premium for calendar year 2014 was roughly $16.5 billion, 11 percent above the total in 2013 and 88 percent above the written premium reported for 2009, according to a report from the California...
Florida Foreclosure Rate Declines 35 Percent, Still Among Highest in Nation
Mar 31 2015 // Florida’s foreclosure activity has declined by more than a third from a year ago, but it still ranks as one of the highest in the nation. The research firm Realty Trac reported that Florida has one out of 570 homes...
Pennsylvania Workers’ Comp Rate to Decline for 4th Year
Mar 28 2015 // The cost of workers’ compensation insurance is declining for the fourth consecutive year in Pennsylvania. The state departments of Insurance and Labor & Industry said on Friday, March 27, that overall rates will...
Premiums, Claims Severity on Rise in Architects & Engineers Market: Survey
Mar 27 2015 // For the third consecutive year, most insurers providing professional liability insurance for architects and engineers saw their premium rates increase modestly in 2014, as expectations of larger rate hikes were tempered by...
Nevada’s Captive Domicile Growth Rises by $3.8B in Premium
Mar 23 2015 // The captive insurance program in Nevada outperformed growth and speed expectations by approving 26 captives in 2014, which resulted in a captive premium increase of $3.8 billion, Insurance Commissioner Scott J. Kipper...
Nevada’s Captive Domicile Growth Rises by $3.8B in Premium
Mar 5 2015 // The captive insurance program in Nevada outperformed growth and speed expectations by approving 26 captives in 2014, which resulted in a captive premium increase of $3.8 billion, Insurance Commissioner Scott J. Kipper...
SIAA Grew Premium to $5.7B, Signed 410 New Member Agencies in 2014
Feb 24 2015 // SIAA (Strategic Insurance Agency Alliance) said it grew premium by $901 million in 2014 to $5.7 billion, with 80 percent of its growth coming from existing member agencies. Premium growth with SIAA’s strategic...
Reinsurers’ Shopping Spree Won’t Slow Down Falling Rates – S&P Report
Feb 18 2015 // In a recent report Standard & Poor’s Ratings Services said it anticipated further mergers and acquisitions in the global reinsurance industry. The report – “Reinsurers’ Shopping Spree...
