Jan. 1 Renewals: ‘They Got Done’; Carrier Overreliance on Reinsurers Corrected January 24, 2023 By Susanne Sclafane When an AM Best analyst said, “Apparently, things didn’t go that bad” to describe 1/1 reinsurance renewals, he wasn’t actually...
Black Sea Shipping Costs Rise on Higher War Risk Insurance, Reinsurer Exclusions January 6, 2023 By Jonathan Saul Costs for hiring ships to transport commodities from the Black Sea have risen by more than a fifth since the...
January Renewals See Hardest Property Catastrophe Reinsurance Rates in Generation January 4, 2023 By L.S. Howard A convergence of global events has led to the hardest property-catastrophe reinsurance market in a generation and a “complex,” “grueling”...
Ship Insurers’ Exodus From Russia-Ukraine Risks Gathers Momentum December 29, 2022 By Alex Longley and Alaric Nightingale A host of shipping insurers altered their policies for 2023 to exclude claims linked to Russia’s war in Ukraine, a...
Ship Insurers to Cancel War Risk Cover for Russia, Ukraine Following Reinsurer Exit December 28, 2022 By Carolyn Cohn and Jonathan Saul Ship insurers said they are canceling war risk cover across Russia, Ukraine and Belarus, following an exit from the region...
‘Droves’ of Global Re Market Entrants Unlikely; Outlook Stable: AM Best December 2, 2022 Will 2023 reinsurance renewals mark a turning point to a “true hard market” that attracts “new capital in droves” and...
Property Cat Reinsurance Rates Likely to Rise by More Than 10% in January Renewals November 23, 2022 Reinsurance rates for property catastrophe business should increase by well over 10% when contracts are renewed in January 2023, according...
‘Hardening’ Property Catastrophe Market Enters ‘Hard’ Market Phase: Bank of America October 12, 2022 By L.S. Howard European reinsurers will miss their earnings targets in 2022 – for the sixth year in a row – which is...
Global Reinsurers’ Capital Levels Drop by 11% During H1, Hit by Declines in Markets September 6, 2022 Global reinsurers’ capital levels dropped by 11% in the first half of 2022 to $647 billion, hurt by market declines,...
Reinsurers Adopt Divergent Strategies About Natural Catastrophe Exposures: S&P August 31, 2022 By L.S. Howard The natural catastrophe business of global reinsurers has been reshaped by five years of higher-than-expected losses, which is leading reinsurers...