reinsurance renewals News

California Wildfires Had Little Impact on Reinsurers’ Risk Appetite During April Renewals

Property-catastrophe capacity remained adequate to meet demand during the April 1 renewals for US reinsurance buyers, despite the record losses from California’s January wildfires, according to Aon and Gallagher Re in their renewal reports. Reinsurers continued to demonstrate an appetite …

US Property/Catastrophe Reinsurance Rates Likely to Stabilize During Midyear Renewals

Reinsurance renewal rates continued dropping during this year’s January renewals, but US property/catastrophe reinsurance pricing is likely to stabilize during the coming midyear renewals, according to a report from Moody’s Ratings. “The upcoming midyear 2025 reinsurance renewals, which focus on …

Loss-Free Property Cat Rates Fall 5%-15% as Reinsurer Appetite Grows: Guy Carpenter

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 …

Buyers’ Market Prevails During April Renewals as Reinsurers Seek Growth

Brokers Aon and Gallagher Re described a buyers’ reinsurance market for the April 1, 2024 property and specialty renewals as reinsurer profit margins benefited from last year’s “redistribution of risk” to cedents. Reinsurers are not only venturing out with increased …

Reinsurance Market Likely to Begin Softening in 2025 as Capacity Rises in 2024: Fitch

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 market conditions in 2025, according to …

Reinsurers’ Casualty Appetites Varied, but Capacity Was ‘Ample’ During 1/1 Renewals

Reinsurers had varied appetites for casualty reinsurance during the January 2024 renewals; while capacity was sufficient, they still maintained underwriting discipline, according to reinsurance brokers in their renewal reports. “Some reinsurers adopted a tougher stance ahead of the January 2024 …

A Return to Balance: Brokers Say Reinsurance Renewals Were ‘Stable’

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 …

Reinsurance Buyers Find ‘Smoother’ January Renewals With Ample Capacity: Carpenter

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 Carpenter, the reinsurance business of Marsh McLennan. …

Top International Insurance Journal Stories of 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 …

Hannover Re’s Germany Unit Expects Further Price Hikes at January Renewals

E+S Rückversicherung AG, the Hannover Re subsidiary responsible for the group’s German business, expects further price increases and improved conditions during the Jan. 1, 2024 reinsurance renewals. Natural disasters and persistently high inflation have again taken a toll on the …