Hannover Re sees a number of reasons for rising primary insurance rates
Against the backdrop of a trend towards more expensive large losses, German reinsurer Hannover Re expects further price increases and improved conditions in property
Reinsurance News
Global insurance-linked securities (ILS) market remains bogged with prior catastrophe
Global insurance-linked securities (ILS) market remains bogged with prior catastrophe losses as the overall performance of funds deteriorates
Reinsurers are showing a diverging appetite for Florida property catastrophe risk
Reinsurers are showing a diverging appetite for Florida property catastrophe risk ahead of further anticipated price increases and coverage constraints going into 2023
Reinsurance market expects underlying profitability in 2023
Fitch Ratings has maintained its global reinsurance market outlook at neutral and expects underlying profitability to remain broadly stable in 2022 and 2023
Natural catastrophe events in Germany caused damages of €3bn
The German Insurance Association (GDV) has said that natural catastrophe events caused damages of around €3bn in the first half of 2022
Parsyl, Lloyd’s syndicate-in-a-box 1796, transferred from Ascot to Asta Managing Agency
Asta, a third-party managing agent at Lloyd’s, announced that the management of Parsyl syndicate-in-a-box 1796 transferred to Asta Managing Agency
Climate, war and capital are coalescing to create a tipping point for the reinsurance market
According to Howden’s Reinsurance Market Report, heightened volatility caused by various aspects of the current risk landscape has led the market
Russia-Ukraine war as a contained risk for reinsurance sector
The full extent of insurance and reinsurance losses stemming from the war between Russia and Ukraine remains a murky subject with many unknown factors
Lloyd’s of London reportes an overall loss of £1.8 bn
Lloyd’s of London reportes an overall loss of £1.8 billion for the first half of 2022, but despite reserving £1.1 billion for claims related to the war in Ukraine
S&P have opted to maintain their negative view on the global reinsurance sector
S&P Global Ratings have opted to maintain their negative view on the global reinsurance sector, but have said there are encouraging signs
Swiss Re intends to grow and diversify natural portfolio
Swiss Re has reported that it intends to “further grow and diversify” its natural catastrophe portfolio as it capitalizes on opportunities to hedge the current volatile environment
Lloyd’s will post a robust underwriting performance in 2022-2024 as reinsurance rates harden
S&P Global Ratings’ latest Lloyd’s Market 2022 Review states a belief that the market will post a robust underwriting performance between 2022 and 2024
Global insured losses from natural catastrophes overview
Global estimated insured losses from natural catastrophes in first half of 2022 totaled USD 35 billion, 22% above average of past ten years (USD 29 billion)
Reinsurance rates will continue to harden during the 2023 renewals
Fitch Ratings have argued that reinsurance rates will continue to harden during the January 2023 renewals, even in the absence of significant catastrophe losses
Pricing conditions will remain favourable for reinsurers next year
Analysts at Moody’s have asserted that pricing conditions will remain favourable for reinsurers next year, with momentum expected to continue through the January 2023
Marsh launches insurance & reinsurance facility for green energy projects
Marsh launches of a first-of-its-kind insurance and reinsurance facility that provides dedicated insurance capacity for green and blue hydrogen energy projects
Large European Reinsurers Underperformes the Reinsurance Market
A new note from Goldman Sachs says that all four large European cap reinsurers have underperformed the market so far in 2022
Total dedicated reinsurance capital will slide back
The recent spike in dedicated reinsurance capital growth may prove short-lived, given expectations for depressed investment markets, continued geopolitical turmoil
Russia-Ukraine war is driving conservative reserving in global reinsurance
Greater uncertainty arising from global issues, like the COVID-19 pandemic and the Russia-Ukraine war, is driving more conservative reserving approaches in the global reinsurance industry
Positive reinsurance price movements leds by primary insurance markets
Analysis by AM Best suggests that globally, reinsurers are re-deploying their capital away from property classes and into lines such as casualty and specialty primary lines
Stable pattern of re/insurers` underwriting profits
AM Best suggests that there is a stable pattern of underwriting profits as companies are becoming more proactive about making explicit allowances for inflationary trends
Brazilian reinsurer IRB Brasil Re seeks to raise close to US $300 mn
Brazilian reinsurance company IRB Brasil Re set to announce a new share offering, as it seeks to raise close to US $300 million
Aon announces a new academic collaboration between Impact Forecasting team
Re/insurance broker Aon has announced a new collaboration between its Impact Forecasting team, the University of California, Merced and the University of California
Swiss Re launches SRILIAC – insurance-linked investment company
Swiss Re announces the launch of its new investment advisory company and wholly owned subsidiary Swiss Re Insurance-Linked Investment Advisors Corporation
Reinsurer Munich Re has announced a profit of €1.4 bn for 1H2022
Reinsurer Munich Re has announced a profit of €768 million and €1.4 billion for the second-quarter and first half of 2022, respectively, driven by a solid performance
Hannover Re announced net income of €649 mn for 1H2022
Hannover Re, one of Europe’s largest reinsurers, has announced net income of €649 million for the first half of 2022, while the firm’s property and casualty
Insurance Regulatory Authority proposes new rules for Indian insurers and reinsurers
The Insurance Regulatory and Development Authority of India has proposed new rules that would allow Indian insurers and reinsurers to raise capital in different forms
Global reinsurance broker AON announced that its Q2 2022 total revenue increased to $3 bn
Global re/insurance broker AON announced that its Q2 2022 total revenue increased by USD 97 million, or by 3%, to USD 2.98 billion compared to… Read More »Global reinsurance broker AON announced that its Q2 2022 total revenue increased to $3 bn
Ascot and Marsh provides $50 mn of cover in marine cargo & war insurance for Ukraine
Specialty re/insurance group Ascot and broker Marsh have launched a marine cargo and war facility, which will provide coverage for vital grain and food products… Read More »Ascot and Marsh provides $50 mn of cover in marine cargo & war insurance for Ukraine
Lloyd’s is gearing up to provide coverage for shipments of grain coming out of Ukraine
Ukraine’s ports have been closed since Russia’s invasion in February with marine insurers based in Lloyd’s of London and the wider London commercial insurance
Re/insurance industry is showing strong momentum. Fund and Insure domain as the big opportunity—potentially generating $17 tn in gross value by 2035
Global reinsurance market has entered a post-peak pricing phase, with earnings expected to moderate in 2025–2026
The global reinsurance sector has undergone a notable transformation since the market reset, drawing sustained attention from investors and analysts
Reinsurance pricing in the European reinsurance market has started to ease after several years of steep increases. Still, underwriting standards remain strong