Florida Hurricane Catastrophe Fund’s Losses & Insurance Claims Outlook
Florida Hurricane Catastrophe Fund plays a vital role in Florida’s property-insurance system as it provides relatively low-cost reinsurance
Florida Hurricane Catastrophe Fund plays a vital role in Florida’s property-insurance system as it provides relatively low-cost reinsurance
The past year and half have seen major changes in the global Reinsurance Property Catastrophe (CAT) market
A swath of natural catastrophes and the Russia-Ukraine war made 2022-2024 a tough years for some managing agents at Lloyd’s of London
Aon’s Reinsurance Aggregate analyses the financial results of 19 reinsures that together underwrite more than 50% of the world’s life and non-life reinsurance premiums
The aviation re/insurance market has gone through a turbulent few years, with the impact of the COVID-19 pandemic, geopolitical shocks and macroeconomic challenges
AM Best has released the Market Segment Outlook: Global Reinsurance report on the outlook for global non-life reinsurance, maintaining a stable view
April 1 is an important renewal for the Asia Pacific region, dominated by Japan, which is home to some of the world’s largest catastrophe reinsurance placements
New reinsurance capital formation is limited, and investors remain concerned about the impact of climate change and inflation
The property catastrophe bond market supported new and repeat insurance, reinsurance and government sponsors
Global reinsurance dedicated capital totaled USD 638 bn. When reported on an economic basis, solvency not only remained strong
Pricing cycles in the commercial insurance and reinsurance sectors are now converging, marked by price increase moderation overall for the former, albeit with strengthening
IAIS collected data on the global reinsurance market through annual Global Reinsurance Market Survey covered about 50 reinsurers based in nine jurisdictions
Lapse reinsurance originally emerged as a capital optimisation solution following the implementation of Solvency II
The April 1 reinsurance renewal season has seen a continuation of the discipline shown by reinsurers at January 1 but with a greater determination that pricing
Property reinsurance rates rose significantly at the renewals. The losses from Hurricane Ian last year were a contributory factor
Seismic shifts in the macroeconomic environment – combined with geopolitical uncertainty and heavy natural catastrophe losses – led to a severe tightening of capacity
The global economy is in a precarious position. The war in Ukraine has superseded COVID-19 as the dominant economic driver, even as China continues to grapple
Climate risk has once again been the catalyst for insurance and reinsurance market change. Major losses caused by extreme weather events in recent years
For the global reinsurance industry, activities in 2023 and renewals for 2024 were set against a backdrop of significant economic and geopolitical uncertainties
ILS plays a key role in allowing catastrophe risk to be transferred from the commercial insurance market to investors, providing additional (re)insurance capacity
Global reinsurance market has faced a very late, complex and in many cases frustrating renewal 1/1. Two areas of most constraint were peak-zone US property catastrophe
Pricing cycles in the commercial insurance and reinsurance sectors are now converging, marked by price increase moderation overall for the former
While insurers may have winced at the spike in property-catastrophe prices at the Jan. 1 renewals, the resulting rate hikes and new policy terms should spur investor interest
While there was sufficient capacity to meet the reinsurance needs of cedants at 1.1, it is also true that the amount of reinsurance capital being deployed was diminished in 2022
The “key focus” will be on how high reinsurance costs will impact their operating margins and how much risk exposure they keep on their own balance sheets
According to Global InsurTech Report, 2022 has been a year of macro-realism (for many InsurTechs, investors and risk partners), micro company hardship
Bermuda reinsurers expected improved underwriting performance in 2024 will be driven by accelerating premium rates with a market reset in pricing
Public announce of cyber risk transference by (re)insurers to capital markets through ILS issuances represent the potential for a reinsurance
The most challenging January 1 renewal in a generation as the reinsurance market underwent a fundamental shift in pricing and risk appetite
The global reinsurance industry reached a tipping point during the 2024 renewals as their bargaining power vis-à-vis their cedents moved substantially in reinsurers’ favour
The aerospace reinsurance renewals season is a chance to retention levels, conditions and price to enable Global aerospace insurance market
The war in Ukraine has brought devastating humanitarian consequences first and foremost, but also unexpected losses and economic shocks
The global reinsurance market has endured a complex and in many cases frustrating renewal process which has gone down to the wire, according to the 1st View January
The year 2022 can be characterized as one of the most challenging years in recent decades from the social, financial, political environment points of view
More than 10 months into Russia’s invasion of Ukraine, the war’s long-term impact is coming into focus. The War prompted many multinational corporations to voluntarily exit
In the negotiations taking place on contract renewal, it has turned out that the international insurance industry is no longer willing to agree on coverage for Russia and Belarus
In response to high inflation, central banks have hiked their base rates, which, in turn, can impact the balance sheets of (re)insurers as a result of fixed-interest securities falling in value
Higher-risk focused insurance-linked securities (ILS) fund strategies appear to be averaging losses around the 17% mark after hurricane Ian
Reinsurance rates for property catastrophe business should increase by well over 10% when contracts are renewed
As one of the hottest topics in the insurance industry in recent years, corporate ESG matters now top the strategic agendas of senior business leaders
The risk of a prolonged Russian invasion of Ukraine will further complicate the resolution of aircraft leasing insurance claims which would take years to settle
M&A transactions in the global reinsurance sector will be limited into 2023 amid investor concerns over macroeconomic risks and heightened catastrophe losses
Guy Carpenter explained that the property catastrophe reinsurance market saw some “significant” price adjustments for loss-impacted programs in peak zones
Today risk assessors use a wide set of tools ranging from sophisticated flood hazard maps to fully probabilistic risk models, but more can be done
Increasing demand for cyber re/insurance have made the need for fresh risk capital acute. With insurance linked securities (ILS) market, re/insurers may be change
Inflation a challenging environment for (re)insurers, which need to calculate how they should build elevated costs into their pricing models
Beyond the broader measures affecting the macro dynamics of most markets, Reinsurance Market Outlook report covers several factors impacting
Fitch expect significant improvements in reinsurers’ financial performances due to higher prices in a hardening market, a rebound in activity
Natural catastrophes (nat cats) continue to divide opinion, with some companies such as Lancashire and Hannover Re pushing the longer-term profitability of the line
A new net line size requirement has been introduced specifying that the maximum net line size that a syndicate may have on an individual risk cannot exceed 30% of ECA