Reinsurance buyers generally found ample capacity during the January renewals as well as increased reinsurer appetite, which led to risk-adjusted rate reductions and improved terms and conditions for clients that could demonstrate differentiated strategies, reinsurance brokers Aon, Gallagher Re and …
Global reinsurers’ appetite rose for property catastrophe during the upcoming January renewals, which have seen risk-adjusted reinsurance rate reductions of 5%-15% for loss-free accounts, according to a renewal report published by Guy Carpenter, the reinsurance business of Marsh McLennan. Property …
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 renewal reports from reinsurance brokers. “Loss-free property programs generally saw easing …
Inflation continues to have an effect on property exposures with sums insured for European windstorm increasing by 10.1% year-on-year at constant euro exchange rates, at similar levels to 2023, according to PERILS AG, the independent Zurich-based company that provides industry-wide …
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 …
Despite extremely challenging conditions, with persistent and elevated claims activity, the global reinsurance segment returned an underwriting profit in 2022, according to an AM Best report. “Reinsurers generally have realigned their risk profiles and are in a strong position to …
One of the world’s top insurers is mulling offloading its property reinsurance business in a bid to cut its exposure to natural disasters like hurricanes, according to three people familiar with the matter. French insurer AXA SA has been discussing …
There is no one answer to the overall insurance industry’s place within its cyclical path. Each product line needs to be looked at individually, according to Robert Berkley, CEO of W.R. Berkley Corp. “Once upon a time, most P/C product …
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. …
White Mountains Insurance Group, Ltd. announced today that Ark Insurance Holdings Limited, its specialty property/casualty reinsurance and insurance subsidiary, has sponsored the formation of a reinsurance sidecar to provide collateralized reinsurance capacity for its global property catastrophe portfolio. Outrigger Re …
