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European cat price cuts slide further into double digits in late renewal
Expectations that reductions would cap out at low double digits are fading due to capacity oversupply.
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The LMA and Liiba welcomed the direction of travel but said progress remained slow. -
Mark Wood chairs Howden Asia Pacific and Howden Private Wealth, and is deputy chair of UK&I.
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A roundup of all the news you need, including the FCA’s “simplified” rules for insurers.
Oaktree will fund the syndicate and act as investment manager for its assets.
The review found an unrelated breach over the CEO failing to log a journey on a private jet.
BNP Paribas will take a EUR1.11bn stake in Ageas.
Opinion
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Lloyd’s October legal review found no evidence of Neal wrongdoing over Clement
The review found an unrelated breach over the CEO failing to log a journey on a private jet.
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Analysis
Analysis
All-risks premium increases are now understood to be in the 15% to 20% range.
Smaller syndicates are lifting their share of the market, as the top quartile also returned to growth.
Insight into the state of the insurance M&A market, powered by Insurance Insider’s comprehensive deal database.
Six of the 10 largest syndicates remained flat or reported de-emptions.
Interviews
Interviews
The CEO conceded some might see Swiss Re’s dividend targets for 2026 as “underwhelming”.
One critical sticking point for Lloyd’s is the true alignment of interest with the market.
The reinsurer is offering pricing incentives to members to reintegrate cover.
The aviation specialist is eyeing up diversifying into new classes such as marine.
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AXIS
Looking ahead to 2026, Michael Silas, Head of Global Credit, AXIS, sees mildly positive global growth driven by tech and infrastructure, but says credit sentiment remains cautious and reinsurers must still price to long‑term tail risk.
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Apollo
With real-time data and analytical tools giving underwriters a clear view of pricing adequacy, mix and attachment points, and allowing faster corrective action when rates fall below acceptable thresholds, insurers are shifting into a new paradigm for soft markets, said James Slaughter, Group CUO, Apollo, during an interview at the Insurance Insider’s London Market Conference.
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Fidelis Partnership
Insurers can turn the global energy transition into both a commercial opportunity and a force for societal good, said Charlie Heathcote, Head of Sustainability, the Fidelis Partnership, during an interview at the Insurance Insider’s London Market Conference
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Recorder
Allowing insurers to receive real-time data from MGAs could eliminate the need for monthly bordereaux reporting, said Matt Hicks, Co-founder, Recorder, during an interview at the Insurance Insider’s London Market Conference.
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AXIS
Being able to make use of innovative AI features relies on having structured, organised and logical data.
AI and precise data can enable insurers to innovate policy durations, from annual to transaction-specific, offering more tailored coverage options, said Christina Lucas, Global Market Leader, Insurance, Google Cloud, during an interview at the PwC Insurance Summit.
Pushing 1 January renewals late in the season can undermine outcomes, said Maamoun Rajeh, President, Arch Capital Group. During an interview at the PwC Insurance Summit, Rajeh called for a bifurcated market approach combining strategic partnerships and a collaborative price discovery process months before renewals.
During an interview at the PwC Insurance Summit, SiriusPoint CEO Scott Egan highlighted the danger of pricing cycles. As pressure mounts after a quiet cat quarter, he urged reinsurers not to create pricing cycles by chasing volume at the expense of long-term industry attractiveness and risk adequacy.
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PwC
PwC Partner Matt Britten predicts a wave of dealmaking in 2026, driven by diversified third-party capital from hedge funds, private equity and more. With reinsurers seeking growth and new asset classes emerging, the market is set for increased activity and innovation, he said during an interview at PwC's Insurance Summit.
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PwC
An expected $600bn of capital flowing into the financial services industry in the coming years is focused on innovation and can reshape the insurance industry, said Arthur Wightman, territory leader, PwC Bermuda, during an interview at PwC's Insurance Summit.
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