December 29, 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 …
September 22, 2023
The hard reinsurance market in property-catastrophe reinsurance isn’t coming to an end at Jan. 1, 2024, but reinsurers are likely to deploy more of their capacity next year, broker executives said recently. Dorothée Mélis-Moutafis, North American brokering executive at Guy …
July 6, 2023
Capacity was more readily available during the mid-year renewals, which brokers described as “orderly,” in comparison to the turbulent January renewals. At the same time, prices saw some moderating trends while reinsurers continued to maintain underwriting discipline, according to reports …
June 2, 2023
Reinsurance rates continued to harden during the June 1 renewals, with risk-adjusted property-catastrophe pricing up 33% on average, according to reinsurance broker Howden Tiger. Prices rose within a typical range of 25% to 40%, including important variations by layer, which …
May 9, 2023
While the January reinsurance renewals proved to be the toughest and most gruelling for decades, the April 1 renewals, driven by the Japanese P/C market, were a much calmer affair, according to Swiss Re. “Overall, client and reinsurer expectations were …
January 30, 2023
A hard market in short-tail lines – such as property and property catastrophe – across global geographies is likely to continue throughout 2023, after beginning the year with multi-decade-high pricing increases during the January reinsurance renewals, according to a report …
January 27, 2023
The most challenging January reinsurance renewals in nearly two decades saw global property catastrophe rate increases of 25% to 60% with loss-affected clients facing even higher prices, according to John Doyle, president and chief executive officer of Marsh McLennan Cos. …
January 25, 2023
Until investors can be convinced that property-catastrophe reinsurance pricing has caught up with recurring event losses, they’ll continue to sit on the market sidelines, a market executive said recently. During an AM Best Reinsurance Briefing, Aditya Dutt, president of Aeolus …
January 24, 2023
When an AM Best analyst said, “Apparently, things didn’t go that bad” to describe 1/1 reinsurance renewals, he wasn’t actually saying anything unique. Carlos Wong-Fupuy, a senior director for AM Best, who spoke during an online briefing on Monday, referred …
January 20, 2023
Repeating words like “frustrated” and “disappointed,” which also punctuated earlier reinsurance broker reports on the Jan. 1 reinsurance renewals to describe buyers’ reactions, Aon suggested that the tough times aren’t over in a new report. Offering a key takeaway from …