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Tag: reinsurance


Risk Management, Trends

US property cat reinsurance rates-on-line up 30.1% at January renewals: Guy Carpenter

February 2, 2023

Via: Reinsurance News

The Guy Carpenter U.S. Property Catastrophe Rate on Line Index increased by a significant 30.1% at the January 2023 reinsurance renewals, taking rates to an all-time high, according to the latest data from the global reinsurance broker. Guy Carpenter, which […]


Risk Management, Trends

High inflation & spikes in interest rates cause challenging renewal season: Aon

January 31, 2023

Via: Reinsurance News

Aon’s January Reinsurance Market Dynamics report: Macro Conditions: Extreme Volatility, cites 2022 as being tricky for the industry, with inflation hitting multi-decade highs, as well as interest rates rising to an almost “unprecedented pace”. The report also noted that equities […]


News

AXA XL Re names Dan Bryan Head of Asia, Reinsurance

January 31, 2023

Via: Reinsurance News

AXA XL Reinsurance has appointed Dan Bryan as Head of Asia, Reinsurance, effective February 1st. Previously, Bryan held the role of Head of Treaty Underwriting for Asia. In this new role, he will continue to work with AXA XL Reinsurance’s […]


Financial, Risk Management

Stone Ridge launches blockchain & digital asset risk MGA, Proof Insurance

January 31, 2023

Via: Artemis BM

Stone Ridge Asset Management, the New York based asset manager an alternative risk premia focus, including reinsurance and insurance-linked securities (ILS), has launched Proof Insurance Solutions, a managing general agent (MGA) with a focus on underwriting risks from the blockchain […]


Risk Management, Trends

S&P Predicts Reinsurers Will Continue Pricing Momentum During 2023

January 30, 2023

Via: Insurance Journal

A hard market in short-tail lines – such as property and property catastrophe – across global geographies is likely to continue throughout 2023, after beginning the year with multi-decade-high pricing increases during the January 2023 reinsurance renewals, according to a […]


News

AM Best: Louisiana Insurance Incentive Program a “Short-Term Stopgap”

January 30, 2023

Via: Insurance Journal

As Louisiana lawmakers adjourn Monday for a special session to address the state’s property insurance crisis, a commentary from AM Best says Louisiana’s plan to appropriate $45 million in funds to incentivize insurance companies to take on more property risk […]


Geo-Political, Risk Management

California floods unlikely to be huge loss for re/insurers: J.P. Morgan

January 30, 2023

Via: Reinsurance News

A new report from J.P. Morgan has stated that the recent California floods are unlikely to be a huge loss for the insurance industry. The California floods hit from late December to early January. The state was hit with extreme […]


Cyber Risks, Risk Management

Hannover Re Transfers Cyber Risks to Capital Markets via Proportional Reinsurance

January 24, 2023

Via: Insurance Journal

Hannover Re has developed an additional retrocession tool that for the first time enables the capital markets to participate directly in coverage of its cyber risks through a quota share cession. Longstanding partner Stone Ridge is supporting the transfer with […]


Financial, Risk Management

Bermuda re/insurers to see improved pricing & performance in 2023: Fitch

January 24, 2023

Via: Reinsurance News

Despite heightened catastrophe losses and economic uncertainty, Fitch Ratings expects improved underwriting performances for Bermuda re/insurers in 2023, driven mainly by accelerating premium rates, alongside a market reset in pricing, terms and conditions. The rating agency states that the underwriting […]


Financial, Geo-Political, Risk Management

Reinsurance renewals – market now “one of the hardest in memory”

January 4, 2023

Via: Insurance Business

The geopolitical and macroeconomic shocks of the past year have led to a highly challenged and complex January 1 renewal period, according to global broking group Howden. In its renewal report titled The Great Realignment, Howden noted how high inflation, […]


InsurTech

Parametrix strengthens US operations with additional reinsurance capacity

December 15, 2022

Via: Reinsurance News

Provider of downtime insurance, Parametrix, is strengthening and expanding its operations in the United States with additional reinsurance capacity. The firm has announced that partners Hannover Re and certain underwriters from Lloyd’s, which includes Tokio Marine Kiln, RenaissanceRe, and Apollo […]


Regulatory / Legal

Ohio Supreme Court: No Coverage Owed for COVID Business Shutdown

December 13, 2022

Via: Insurance Journal

The Ohio Supreme Court ruled Monday that COVID-19 cannot cause any direct physical damage or loss that is covered by a commercial property insurance policy, joining nine other state high courts that have rejected similar business-interruption claims. The Ohio court […]


News

Florida and Reinsurance – Pulling Back the Covers

December 6, 2022

Via: Insurance Journal

The Florida Legislature will conduct a special session during the week of December 12 focusing on fixes for a failing, flailing insurance market in the state that has reached crisis levels. Symptoms of the crisis include the financial collapse of […]


News

Parametric reinsurance contract triggers for Hurricane Ian damages

December 6, 2022

Via: Insurance Business

Arbol, an insurtech platform underwriting climate and weather insurance, has delivered a $10-million parametric insurance payout to property and casualty (P&C) company Centauri Insurance, only weeks after the hurricane struck in late September. This is the first known parametric insurance […]


Risk Management, Trends

Grim picture for January 1 property reinsurance renewals

September 30, 2022

Via: Insurance Business

Property reinsurance renewals at mid-year 2022 “experienced significantly tighter conditions” than the renewals at January 1, according to Guy Carpenter. The Guy Carpenter US Property Catastrophe Rate on Line Index – a proprietary index of rate-on-line movements on brokered excess […]


Geo-Political, Risk Management

Munich Re aims to push boundaries of climate insurability, say leaders

September 23, 2022

Via: Reinsurance News

Executives at Munich Re say the company is aiming to “push the boundaries of insurability” in its efforts to help understand and mitigate the impacts of climate change. Speaking at a briefing during the 2022 RVS event in Monte Carlo […]


Geo-Political, Risk Management

Reinsurers diverge on Florida cat risk: Moody’s

September 16, 2022

Via: Reinsurance News

Reinsurers are showing a diverging appetite for Florida property catastrophe risk, says Moody’s, ahead of further anticipated price increases and coverage constraints going into 2023. The rating agency noted that many reinsurers chose to hold steady or cut their Florida […]


Regulatory / Legal

AMBest Report Shows Florida Insurers Far Out of Line on Reinsurance Dependency

September 15, 2022

Via: Insurance Journal

Mango Questions State-Run Ratings Agency Idea Florida-domiciled property carriers are extremely reliant on the reinsurance market, making them vulnerable to coming price hikes, a just-released report from the AM Best financial rating firm said. Despite that, AM Best is willing […]


Cyber Risks, Risk Management

Reinsurers risk irrelevancy if cyber demand isn’t met: Munich Re

September 15, 2022

Via: Reinsurance News

Senior executives at Munich Re have warned that the re/insurance industry “might lose relevance” if it doesn’t find ways to meet the growing demand for cyber cover with new products and services. Speaking at the reinsurer’s 2022 RVS briefing in […]


Brokers

Lockton creates capital markets unit as part of reinsurance business

September 12, 2022

Via: Insurance Business

Independent insurance broker Lockton has formed a capital markets unit within its global reinsurance business Lockton Re. Led by Zach Breslin, Lockton Re Capital Markets (LRCM) is aimed at providing complementary solutions to existing client offerings by accessing broader pools […]