Most Popular Reinsurance Headlines This Year
The most viewed headlines from our Reinsurance Topic Page over the last year.
#1 Liability Reinsurance Crisis Could Be Looming, TransRe CEO Says
Jun 7 2024 // “There could be a liability crisis in reinsurance in a couple of years,” a reinsurance executive predicted this week. Ken Brandt, chair, president and chief executive officer of TransRe, offered the assessment...
#2 A Return to Balance: Brokers Say Reinsurance Renewals Were ‘Stable’
Jan 3 2024 // This year’s January reinsurance renewals were described by brokers as “stable,” “predictable,” “orderly,” “calmer,” “disciplined,” with “increased...
#3 Reinsurance Buyers Find ‘Smoother’ January Renewals With Ample Capacity: Carpenter
Dec 29 2023 // 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...
#4 Reinsurance Market Likely to Begin Softening in 2025 as Capacity Rises in 2024: Fitch
Jan 25 2024 // 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...
#5 Castle Key Defends 53.5% Condo Rate Hike, Blames Reinsurance, Ian, Rapid Growth
Feb 22 2024 // When Allstate’s Florida unit, Castle Key Indemnity Co., entered the surging condominium insurance market in 2020, it looked like it had made a smart bet: Within two years, the carrier had added no fewer than 123,000...
#6 Casualty Reinsurance Renewals See Modest Price Hikes Despite Social Inflation: AM Best
Feb 15 2024 // 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...
#7 What Happened to Reinsurance ‘Class of 2023’? Hard Market Defies Age-Old Patterns.
Jul 12 2024 // Catastrophic events, such as major hurricanes and the Sept. 11 terrorist attacks, traditionally have led to hard markets that in turn drove the formation of startup reinsurers to fill capacity needs. Reinsurers launched in...
#8 Climate Losses Batter Insurers While Reinsurers Step Back
Sep 5 2024 // As the planet warms and more natural disasters occur, insurers are facing an increasingly difficult time. In 2023, for the fourth year in a row, global insured catastrophe losses exceeded $100 billion. The trend continues...
#9 Federal Reinsurance Backstop for Catastrophes: APCIA Says No Thanks
Jan 16 2024 // Federal lawmakers introduced a bill to create a federal natural catastrophe backstop recently, reacting to insurers’ issues with growing private reinsurance costs. But a trade group for carriers suggested that a...
#10 Reinsurers Cautious About US Regional Property Cat as Storm Losses Rise: Gallagher Re
Nov 22 2023 // After a costly 2023 severe convective storm season in the US, reinsurers underwriting in the regional property catastrophe market are skeptical about providing frequency cover, but their overall appetite remains healthy,...
#11 Hard Reinsurance Prices Likely to Last Longer Than in Previous Market Cycles: Report
Aug 15 2024 // Hard reinsurance pricing conditions are likely to last longer than in previous market cycles mainly due to persistently high claims activity from the accumulation of medium-sized disaster losses and secondary perils,...
#12 China Construction Bank Sued in US Over Reinsurance Fraud Losses
May 10 2024 // China Construction Bank Corp., the nation’s third-largest commercial lender, was accused in a US lawsuit of enabling a massive fraud in the reinsurance industry that left companies with “monumental...
#13 Reinsurance Outlook to ‘Neutral’; US to Push for Double-Digit Casualty Increases
Sep 16 2024 // Fitch Ratings said reinsurers are likely to push for double-digit U.S. casualty rate increases during January renewals to keep up with loss trends from social inflation. The rating agency in a new report changed its...
#14 Property-Catastrophe Reinsurance Rates Drop by 5% at June Renewals: Howden Re
May 30 2024 // Property-catastrophe rates saw some moderating trends during the June 1 reinsurance renewals, with average risk-adjusted rates-on-line decreasing by 5% within a typical range of -7.5% to -2.5%, according to Howden Re, the...
#15 Reinsurers’ Appetite Grows During Mid-Year Renewals but Discipline Remains: Brokers
Jul 8 2024 // Reinsurance buyers generally saw positive outcomes during the mid-year renewals, finding adequate capacity to meet cedents’ increasing demand for protection — in both property and casualty, according to three...
#16 Allstate’s Florida Company Defends 54% Condo Rate Hike. Blames Reinsurance, Hurricane, Rapid Growth
Mar 18 2024 // When Allstate’s Florida unit, Castle Key Indemnity Co., entered the surging condominium insurance market in 2020, it looked like it had made a smart bet: Within two years, the carrier had added no fewer than 123,000...
#17 KBRA: Florida Insurers Got Creative in 2023 but Higher Reinsurance, Storms Coming
Dec 13 2023 // Things are looking up in the buffeted Florida market, but reinsurance rates will continue to rise for the next two years, and a 2024 hurricane season could be busy. It all suggests that property insurers will continue to...
#18 Brookfield Reinsurance Completes Buy of Argo Group; Snyder Named Argo CEO
Nov 16 2023 // Brookfield Reinsurance’s $1.1 billion acquisition of Argo Group International Holdings has been completed and Jessica Snyder was appointed chief executive officer of Argo. Snyder succeeds Thomas Bradley, who...
#19 Munich Re and Swiss Re Both Top List of 2023’s Largest Reinsurers
Aug 30 2024 // Munich Re tops the list of the world’s 50 largest reinsurers that use IFRS 17 reporting standards, while Swiss Re is the largest non-IFRS 17 reinsurer, according to AM Best. Among the largest IFRS 17 reporting...
#20 Reinsurers’ Appetite for Natural Catastrophe Risks Grows – But Discipline Remains
Sep 4 2024 // Top reinsurers are showing increasing – but disciplined – appetite for natural catastrophe risks as a result of rising demand, better pricing, more favorable terms and conditions, and sound investment income, according...
