Reinsurance Renewals at April 2024 by Regions: Capacity & Trends
Reinsurance renewals conditions since 1/1 have continued to move in favor of reinsurance buyers. At the start of last year, property catastrophe capacity was constrained
Reinsurance renewals conditions since 1/1 have continued to move in favor of reinsurance buyers. At the start of last year, property catastrophe capacity was constrained
Global Reinsurance market conditions since 1/1 have continued to move in favor of reinsurance buyers. Reinsurance renewals at April 1 consolidated the progress made at 1/1
Global reinsurance groups reported a significant improvement in underwriting profitability and ROEs in 2023
Reinsurance rate increases for property catastrophe business are likely to slow to below 10% on average when contracts are renewed in January 2024
Global reinsurance rate increases for property catastrophe business are likely to slow to below 10% on average when contracts
Ahead of the January 2024 reinsurance renewals, reinsurers’ overall appetite for US regional property catastrophe coverage remains healthy
Fitch revised global reinsurance sector outlook to ‘improving’ from ‘neutral’ to reflect the sector’s strengthening performance into 2024
Global reinsurance groups are cutting back on the cover they provide against medium-sized natural catastrophe risks due to investor pressure after several years
U.S. property catastrophe reinsurance rates rose by as much as 50% at a key July renewal date, with states such as California and Florida increasingly hit
The past year and half have seen major changes in the global Reinsurance Property Catastrophe (CAT) market
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
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
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
For the global reinsurance industry, activities in 2023 and renewals for 2024 were set against a backdrop of significant economic and geopolitical uncertainties
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