We Can Work It Out: Negotiations Likely on COVID-19 Reinsurance Losses June 11, 2021 By Susanne Sclafane Catastrophe excess of loss reinsurance contracts “never anticipated an event like a pandemic,” but cedents can still expect compromises from...
Reinsurers Remain Resilient Despite P/C Underwriting Losses in 2020 April 22, 2021 By L.S. Howard Despite the combined effects of around $25 billion of pandemic and natural catastrophe-related losses as well compromised investment returns, a...
SCOR Reports 4.3% Increase in Reinsurance Prices During April Renewals April 19, 2021 French reinsurer SCOR said it benefited strongly from continued improvements in pricing and terms and conditions, during the April 1,...
Reinsurers Will Bear Most of Costs of Container-Ship Grounding in Suez Canal April 8, 2021 By Jonathan Saul and Carolyn Cohn LONDON — Reinsurers are set to foot most of the bill for the grounding of the ship that halted traffic...
Australia’s Regulator Weighs Limits on Life Insurers’ Exposure to Offshore Reinsurance April 8, 2021 Australia’s insurance regulator on Thursday proposed to limit the exposure of life insurers to offshore reinsurers, given its lack of...
Insurance Unlikely to Cover All Shipowners’ Expenses Incurred in Suez Closure Chaos March 30, 2021 By Jonathan Saul and Carolyn Cohn The owners and charterers of ships unable to sail through the the Suez Canal for nearly a week face at...
Suez Canal Blockage Likely to Bring Large Losses for Global Reinsurers: Fitch March 29, 2021 The blocking of the Suez Canal and resulting disruption to global shipping is likely to cause a large loss event...
Insurers Face Disputes with Their Reinsurers over UK COVID-19 Business Income Claims March 11, 2021 By Carolyn Cohn and Kirstin Ridley Top insurance companies, ordered by Britain’s highest court to pay thousands of small businesses millions of pounds in claims for...
Reinsurers Saw ‘Good’ Rate Hikes in January Renewals, but Will Be Asking for More: S&P March 2, 2021 By L.S. Howard Global property and casualty reinsurers saw “good” rate increases during the January 2021 renewals but they came up short of...
Munich Re’s 2020 Profit Drops 55% on COVID-19-Related Reinsurance Claims of $4.1B February 25, 2021 Munich Re reported a profit of €1.21 billion (US1.47 billion) for 2020, a 55% decline from the €2.71 billion (US$3.29...