James Kent News

Global Reinsurers See Robust Capital Growth of 15% in 2019: Willis Re

Total capital dedicated to the global reinsurance industry measured US$605 billion at year-end 2019, reflecting robust 15% year-on-year growth, according to Willis Re’s latest Reinsurance Market Report. This was primarily driven by 2019’s strong investment market performance and was achieved …

UK Insurance Industry Leaders Form Steering Group to Propose Pandemic Response, Chaired by Catlin

UK Insurance industry leaders have combined to form a steering group, which will work with terrorism reinsurer Pool Re, with the primary objective to ensure that, working alongside the industry to support customers and communities in the current crisis, the …

January 2020 Reinsurance Renewals Varied Significantly, Brokers Say

The January 2020 reinsurance renewals saw significant variation in pricing and capacity depending on geography, line of business, cedents’ loss record and client relationships, according to two reports published by brokers Guy Carpenter and Willis Re. Indeed, the market demonstrated …

Reinsurers Offering Better Prices, Capacity for Preferred Trading Partners: Willis Re

Strengthening primary insurance market conditions underpinned improvements to reinsurance prices, terms and conditions at the June 1 and July 1, 2019 renewals, according to the latest 1st View renewals report from Willis Re, the reinsurance division of Willis Towers Watson. …

Reinsurers Charge ‘Rational’ Rates in April Renewals, from Flat to 25%: Willis Re

While there were no signs of generalized rate hardening during the April 1, 2019 renewal season, reinsurers have adopted a “rational” rating approach, asking for price increases of up to 25 percent, mainly targeted towards loss-affected contracts and programs, according …

January Renewals Show Higher Prices for Clients with Poor Loss Records: Willis Re

Reinsurance placements at Jan. 1, 2019 highlight a pricing gap between accounts with peak peril exposures, or poor loss records, and the rest, with many reinsurers placing emphasis on the quality of client counterparties, according to the latest 1st View …

Momentum for Rate Hikes Dissipates During June/July Renewals: Willis Re Report

Momentum for rate increases on loss-free reinsurance accounts dissipated during the June/July property catastrophe renewals, and in some cases, pricing declined, according to a report published by Willis Re. For example, although most loss-free Florida property accounts were flat, some …

Natural Catastrophe Claims in 2017 Reached a Record $135B: Munich Re

The insurance industry will pay record claims of US$135 billion from last year’s spate of natural catastrophes, according to a report published by Munich Re. Further, Hurricanes Harvey, Irma and Maria (HIM), the Mexico earthquakes and wildfires in California created …

Property Reinsurance Rates Rise Less Than Expected in Jan. 1 Renewals

Global property reinsurance prices have risen less than expected in the key Jan. 1 renewal season, with strong competition limiting increases to single digit percentages following a record year of losses, brokers said on Tuesday. Catastrophe bond managers are launching …

Kent to Become Willis Re’s Global CEO when Cavanagh Retires

Willis Re announced that James Kent, the current deputy global CEO, will succeed John Cavanagh when he retires from his position as global CEO in December 2017. Kent joined Willis Re in 2004 and has served as the global deputy …